California Now World's 5th Largest Economy, Surpassing UK
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Re: California Now World's 5th Largest Economy, Surpassing UK
#2You mean once again. It has been #5 before.
Re: California Now World's 5th Largest Economy, Surpassing UK
#35th largest in the world and yet where is all of the money going? California is in a huge deficit.
Re: California Now World's 5th Largest Economy, Surpassing UK
#45th largest in the world and yet where is all of the money going? California is in a huge deficit.
The US government doesn’t care about deficits, so it would seem.
Re: California Now World's 5th Largest Economy, Surpassing UK
#55th largest in the world and yet where is all of the money going? California is in a huge deficit.
To landlords, mostly. If you look at the numbers, the deficit has mostly shrunk after some truly huge ones.
Re: California Now World's 5th Largest Economy, Surpassing UK
#65th largest in the world and yet where is all of the money going? California is in a huge deficit.
California budget deficit: $1.6 billion
California GDP: $2.7 trillion
I think California will be fine.
Re: California Now World's 5th Largest Economy, Surpassing UK
#75th largest in the world and yet where is all of the money going? California is in a huge deficit.
Interesting - this article seems to say the opposite:
https://www.wsj.com/articles/jerry-browns-legacy-a-6-1-billi...
Re: California Now World's 5th Largest Economy, Surpassing UK
#8No reason to use a paywalled version of this AP story
Re: California Now World's 5th Largest Economy, Surpassing UK
#95th largest in the world and yet where is all of the money going? California is in a huge deficit.
California has a high amount of debt, particularly per household, when compared to (some) other U.S. states. However, the last few years under governor Brown have led to a budget surplus for those years, which is commonly attributed to the tax hikes of Proposition 30, among better spending decisions.
We're looking at a pretty substantial surplus for this year's budget, which will be finalized in June, and lawmakers have different ideas about what to do with it. Governor Brown wants to put it in the rainy day fund, conservatives largely want to enact tax relief for some Californians, and the state's liberal politicians largely want to spend it on other things.
Personally, I'd like if California used at least the bulk of it to pay down some of our unfunded liabilities with regards to pension programs, of which we still have about $275 billion (of over $400 billion in total debt). There are plans to take care of these over the next 3 decades, but settling it a bit earlier never hurt.
Re: California Now World's 5th Largest Economy, Surpassing UK
#105th largest in the world and yet where is all of the money going? California is in a huge deficit.
California budget deficit: $1.6 billion California GDP: $2.7 trillion I think California will be fine.
"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."
(Though, in the end, I agree with you.)