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re: New York, New Jersey, Illinois, Connecticut and California will be demanding a bailout.
Posted on 4/26/20 at 4:25 pm to GumboPot
Posted on 4/26/20 at 4:25 pm to GumboPot
Are you really saying Louisiana is better off than California? Keep in mind California would be a top ten richest country in the world if they were independent.
Posted on 4/26/20 at 4:27 pm to Brosef Stalin
quote:
Keep in mind California would be a top ten richest country in the world if they were independent.
Then why do they need a bailout?
Posted on 4/26/20 at 4:28 pm to Brosef Stalin
Quality of life? Yes.
I think Louisiana is a better place to live.
I think Louisiana is a better place to live.
Posted on 4/26/20 at 4:28 pm to Brosef Stalin
Richest? How do you define that? Because I'm pretty sure California's balance sheet is a shitshow.
Posted on 4/26/20 at 4:29 pm to Brosef Stalin
And they would have a great big dent anvil around their neck while they are at it
Like you said they are superior to us in every way so they can figure it out themselves
Net migration numbers, all else is bullshite
Dirt poor Mexicans flock there, everybody else is a net outbound
Like you said they are superior to us in every way so they can figure it out themselves
Net migration numbers, all else is bullshite
Dirt poor Mexicans flock there, everybody else is a net outbound
Posted on 4/26/20 at 4:32 pm to Brosef Stalin
CA is 1.5 trillion in debt.
LINK
California’s total state and local government debt as of June 30, 2017 totaled just over $1.5 trillion. That total includes all outstanding bonds, loans, and other long-term liabilities, along with the officially reported unfunded liability for other post-employment benefits (primarily retiree healthcare), as well as unfunded pension liabilities.
This represents a rise of about $200 billion – or 15% – over our last debt analysis, in January 2017.
Our findings may appear to contradict reports that suggest a state budget surplus of about $9 billion. But the state’s spare cash and rainy day funds pale before the mountain of long-term liabilities that California governments at all levels have accumulated. Moreover, if the stock market drops, personal income tax and capital gains tax revenue will decline precipitously, wiping out these surpluses.
We calculate the total of unfunded pensions in California at $846 billion – $530 billion more than the official estimate of $316 billion. But even using only the officially reported estimates, California’s state and local governments are about $1.0 trillion in debt.
LINK
California’s total state and local government debt as of June 30, 2017 totaled just over $1.5 trillion. That total includes all outstanding bonds, loans, and other long-term liabilities, along with the officially reported unfunded liability for other post-employment benefits (primarily retiree healthcare), as well as unfunded pension liabilities.
This represents a rise of about $200 billion – or 15% – over our last debt analysis, in January 2017.
Our findings may appear to contradict reports that suggest a state budget surplus of about $9 billion. But the state’s spare cash and rainy day funds pale before the mountain of long-term liabilities that California governments at all levels have accumulated. Moreover, if the stock market drops, personal income tax and capital gains tax revenue will decline precipitously, wiping out these surpluses.
We calculate the total of unfunded pensions in California at $846 billion – $530 billion more than the official estimate of $316 billion. But even using only the officially reported estimates, California’s state and local governments are about $1.0 trillion in debt.
Posted on 4/26/20 at 4:39 pm to Brosef Stalin
California has a debt ratio of over 107%. New Jersey is at 280%
Posted on 4/26/20 at 7:51 pm to Brosef Stalin
Then they certainly shouldn’t need a bail out from the poor tax payers if Louisiana, Mississippi, or Arkansas problem solved comrade.
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