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by ajross
1485 days ago
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Hell, they didn't even compare debt per capita[1]. Seeing numbers like that into an opinion piece is the easiest way to know you're almost certainly being deliberately lied to. In fact the whole idea of California being somehow spending irresponsibly is simply false. State budgets are high because state revenues are high, and it's been beating US aggregate growth numbers for most of the last century. Maybe there's a good case to be made that the end of this period is approaching and that the gravy train is slowing down. But that's an argument about second derivative. California is and remains extremely wealthy and has a comparatively well-managed state budget. Period. (I don't live there, btw.) [1] Which per this link is almost dead-on average among US states at $3850: https://worldpopulationreview.com/state-rankings/debt-by-sta... |
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Side bar and chart:
> Least Debt: Tennessee ($875.12)
List:
> States with the Least Debt > 1. Texas > > Texas has the lowest debt of any state in the U.S. Alaska's total liabilities add up to $222.64 billion, and its total assets add up to $356.01 billion, giving Texas the highest net position in the country of $115.08 billion. Texas's debt ratio is 62.5% > ... > 3. Alaska > ... > 5. Tennessee