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JoelCairo wrote: What's held California back -- which is a joke, since something else is holding everyone else back more -- is the legacy of rigid, fanatic, anti-tax increase policies and the destruction of the concept of majority rule. Pure and simple.


Total State Debt Tops $4 Trillion Dollars, California Ranked the Worst

California again trumped other states with a $617 billion debt. California’s debt is more than twice the size of New York‘s state debt, and New York has the second largest total debt burden in the nation. Texas, Illinois, and New Jersey rounded out the top five states with the most debt. Although New York and Texas moved up one and two spots, respectively, the states with the five largest debts remained unchanged from last year’s report.

What does this debt consist of, mainly? You guessed it: unfunded liabilities within the state pension and entitlement programs make up half ($2.8 trillion) of all the accumulated debt.
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