David Friedberg: California is sitting on half a trillion dollars in bonds, staring at an $18B deficit that’s about to explode past $30B, and still plans to keep borrowing just to function.

David Friedberg: California is sitting on half a trillion dollars in bonds, staring at an $18B deficit that’s about to explode past $30B, and still plans to keep borrowing just to function. This is the world’s 4th largest economy, already financially cornered — and that’s before… pic.twitter.com/gM0C1plg5j

— Ian Miles Cheong (@ianmiles) January 10, 2026