California Disgrace to the World

[evenflow1969]

4th largest economy in the world, I bet they feel discraced.lol

Just because of their population. 1st largest insane asylum.

Blah,blah,blah. Bigger economy than florida and texas combined less pop and less land when compared to the two states. Your op is shit as normal

Yes, but they are still broke.

California’s Total State and Local Debt Totals $1.3 Trillion | California Policy Center

California is the only state, that went to the Federal Government, to ask that their debts be security by the Feds. All because they were in danger of going into default.

Doesn't matter if you have the largest economy of any state in the Union, if you end up going bankrupt.

It's that simple. For a long time Detroit was a nation leader in industry. Didn't stop them from going broke with bad left-wing policy.

So a right wing policy center is your source. According to federal governemnts websites that is flat bull shit.
State Debt Rank for 2017 - Charts
So blow me!

Did you look at your link? The two most indebted States, California, number one, and New York, number two.

Regardless, you are ignoring unfunded liabilities.

Do you know what an unfunded liability is? It is money you agreed to pay, but have not done so yet.

Because the debt has not happened as of yet, it is not calculated in direct debt numbers. Yet when the bill comes due, it is still owed.

For example, Social Security, and Medicare, both have massive unfunded liabilities.

Medicare Faces Unfunded Liability of $38.6T, or $328,404 for Each U.S. Household

Now every calculation of an unfunded liability, is of course an estimate. We can't know exactly how much will be owed, until it is owed.

For example, if the economy grows at 20% for the next five years, that would dramatically increase funding for those programs, and thus the unfunded liability would be lower, or even disappear.

If the economy grows slower, you would end up with larger unfunded liabilities.

California has billions of dollars in unfunded liabilities. Those numbers may not be current debt, and they might be estimates that change in the future. But based on historical growth figures, we can safely assume that these estimates are fairly accurate.

Meanwhile yes I did look at my numbers, only thing I am not an idiot like you! I researched further. You know if I were to owe a million dollars right now that would be an issue. On the other hand if Lebron James owes a million dolars not so much a problem. To make these numbers meaningfull one must look at debt to GDP ratios. Meanwhile your right wing group lied like crazy.
State Debt Ranking Percent GDP for 2019 - Charts

 

[Andylusion]

Just because of their population. 1st largest insane asylum.

Blah,blah,blah. Bigger economy than florida and texas combined less pop and less land when compared to the two states. Your op is shit as normal

Yes, but they are still broke.

California’s Total State and Local Debt Totals $1.3 Trillion | California Policy Center

California is the only state, that went to the Federal Government, to ask that their debts be security by the Feds. All because they were in danger of going into default.

Doesn't matter if you have the largest economy of any state in the Union, if you end up going bankrupt.

It's that simple. For a long time Detroit was a nation leader in industry. Didn't stop them from going broke with bad left-wing policy.

So a right wing policy center is your source. According to federal governemnts websites that is flat bull shit.
State Debt Rank for 2017 - Charts
So blow me!

Did you look at your link? The two most indebted States, California, number one, and New York, number two.

Regardless, you are ignoring unfunded liabilities.

Do you know what an unfunded liability is? It is money you agreed to pay, but have not done so yet.

Because the debt has not happened as of yet, it is not calculated in direct debt numbers. Yet when the bill comes due, it is still owed.

For example, Social Security, and Medicare, both have massive unfunded liabilities.

Medicare Faces Unfunded Liability of $38.6T, or $328,404 for Each U.S. Household

Now every calculation of an unfunded liability, is of course an estimate. We can't know exactly how much will be owed, until it is owed.

For example, if the economy grows at 20% for the next five years, that would dramatically increase funding for those programs, and thus the unfunded liability would be lower, or even disappear.

If the economy grows slower, you would end up with larger unfunded liabilities.

California has billions of dollars in unfunded liabilities. Those numbers may not be current debt, and they might be estimates that change in the future. But based on historical growth figures, we can safely assume that these estimates are fairly accurate.

Meanwhile yes I did look at my numbers, only thing I am not an idiot like you! I researched further. You know if I were to owe a million dollars right now that would be an issue. On the other hand if Lebron James owes a million dolars not so much a problem. To make these numbers meaningfull one must look at debt to GDP ratios. Meanwhile your right wing group lied like crazy.
State Debt Ranking Percent GDP for 2019 - Charts

This is a lame argument in my book.

But it is an argument, and if that's where you want to go, that's your choice. I will respect this is your position.

But to me, comparing debt to GDP, is not relevant.

It's like comparing Michael Jacksons debt to his life long income. His debts were small compared to how much he's earned over his life. That's true. But in the end, he almost went bankrupt.

Because it doesn't matter diddly squat what your GDP is. What matter is how much you owe, verses how much you make.

If you owe a half a trillion dollars... it doesn't really matter much how much your GDP is, because you owe half a trillion dollars.

There is some bonkers left-wing ideal that if you have a large GDP, that magically half a trillion in direct debt, just.... like isn't. Well yes it is.

Why does that matter? Because GDP is fluid. Greece's GDP went down, and hard. Venzuela's GDP went down. And individual states GDP can change.

If you need more evidence.... why did California go to the Feds to guarantee their loans? Why didn't Alaska? Why didn't Hawaii or Nevada?

Both have higher debt to GDP ratios, and yet only California felt the need to go to the Feds to guarantee their debts.

So even California itself knows they are in more danger than other states.

 

[Likkmee]

I hate Los Angeles, Suckamanhole and Sanfran but I LOVE California.Especially north.

 

[KissMy]

Californians have longer life expectancy than any Republican hell hole state! Repubtards states shorten your life by 6 years!

 

[Andylusion]

Californians have longer life expectancy than any Republican hell hole state! Repubtards states shorten your life by 6 years!

Ah ya got us! My parents are both only in their late 70s! What a great point! I'm completely convinced. You sure made a perfectly sound argument there.......

 

[Billo_Really]

I've gone over the falls enough, once at Kelly's Cove (SF's Ocean Beach) I hit the bottom so hard I separated my shoulder.

The Wedge is infamous.