The sorry state of California's infrastructure is a common refrain, but how much additional infrastructure investment can the state afford? In order to address this question, we examined California's ability to take on additional debt  to fund infrastructure projects, constructing a simulation and forecasting model to project debt service payments and state General Fund costs and revenues under a variety of scenarios. This interactive simulation tool allowed our client to project the effects of various interest rate assumptions, program caseload and cost increase scenarios, and new debt approval schedules. The resulting insights were used to guide strategic decision-making with respect to new infrastructure initiatives.