I'm not sure there are facts to support your opinions. First, if transferred, the new public agency would take on 100% of ONT's debts. The bonds used to finance all of ONT's facilities are being paid off by user fees and PFCs. None of the current outstanding debt has been backed by LAWA (or LAX). (source 1)

Second, ONT's debt is actually quite small. Airport debt is measured in $ per enplaned passenger. In 2008 (the most recent data I could find), the median debt for US airports was $78 per enplaned passenger. (source 2) For fiscal year 2012, the outstanding debt at ONT was $31.95 per enplaned passenger. During that same year, the debt at LAX was $116.42 per enplaned passenger. (source 3)

Debt isn't the issue. Those wanting local control of ONT are not delusional. But, I willingly admit it's a complicated issue. Feel free to provide an alternative analysis of the facts.

Sources:
1: http://setontariofree.com/faq
2: http://www.scribd.com/embeds/7229352...ri4ci92n15gjv5
3: http://www.lawa.org/uploadedFiles/LAWA/pdf/LAWA_Comprehensive_Annual_Financial_Report_2012.pd f (on page 86)