California had a debt of $151,715,007,000 in fiscal year 2015. The state debt per capita was $3,891. This ranked California first among the states in debt and 14th in per capita debt. The total state debt owned by the 50 states was $1.15 trillion with a per capita debt of $3,582.[1]
California's economy, with a gross state product of $3.0 trillion, is the largest sub-national economy in the world. If it were a country, California would be the fifth-largest economy in the world,
https://ballotpedia.org/California_state_debt
California's economy, with a gross state product of $3.0 trillion, is the largest sub-national economy in the world. If it were a country, California would be the fifth-largest economy in the world,
https://en.wikipedia.org/wiki/California#cite_note-16
And yet it is most in debt.
Most curious.
I guess the debt is manageable because California brings in a lot of money
It's manageable because Cali isn't paying, especially pensions lmao
Cali supposedly earns 5 trillion, why can't they pay 1.05 trillion?
https://www.forbes.com/sites/adamandrzejewski/2020/05/19/why-california-is-in-trouble--340000-public-employees-with-100000-paychecks-cost-taxpayers-45-billion/