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Thread: Study: States Over 4T in Debt

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    Study: States Over 4T in Debt

    America’s 50 states are collectively over $4 trillion in debt according to a new study by an independent, non-partisan think tank.

    State Budget Solutions‘ third annual State Debt Report shows that aggregate state debt fell from $4.24 trillion last year to $4.19 trillion this year. State Budget Solutions’ debt calculations include a state’s regular debt, the fiscal year 2013 budget gap, outstanding unemployment trust fund loans, unfunded other post employment benefit liabilities, and the state’s unfunded pension liabilities.

    California, again, led all states in total debt weighing in at $617 billion in unfunded liabilities. On a per capita basis, each Californian faces $16,386 in state debt compared to just $11,117 owed by each Texan. The top five states in total debt burden where California, New York, Texas, New Jersey and Ohio.

    Unfunded pension liabilities are the main driver of state fiscal woes, accounting for $2.8 trillion of the shortfall. Other post employment benefits, including health care, account for another $627 billion in debt. California faces $398 billion in unfunded pension liabilities alone.
    STUDY: States over $4 trillion in debt | WashingtonExaminer.com

    obama depends on the uninformed voter outpolling americans who follow what's going on

    unfortunately for our one term president, americans know

    at the state level it's pensions

    governors kasich, jindal, cuomo, christie, scott, daniels and others have taken real and substantial steps towards addressing this crisis

    in contrast, moonbeam in california and quinn in illinois stand in the way

    speaker madigan in springfield just last week deposited two $100,000 donations from the seiu after killing his state's reform

    governor walker in wisconsin demonstrated real vision and courage, and he was rewarded by the traditionally progressive citizens of the badger state

    the republican convention is gonna showcase many of these gubs, they are going to paint a dramatic contrast with the hopelessness and inaction of california, for example

    obama's convention is gonna avoid these seismic questions and answers---instead he's gonna try to capitalize on the controversy coming out of missouri which is todd akin

    as a result, charlotte will celebrate women's issues and causes, namely contraception and abortion

    but after three nites of sandra fluke and naral and planned parenthood and every other face of feminist activism, his convention will appear almost to be promoting abortion, the more the merrier

    you won't be hearing "safe, legal and rare," for instance

    it's too late for obama to retreat, he's committed, charlotte will be one big abortion palooza

    in economic times like these

    the guy is a complete incompetent, no wonder the former editor of newsweek and nyt mag quotes bill clinton as calling him "an amateur"

    try to see moves ahead

    obama, by the way, is quite the extremist himself when it comes to choice

    the state senator who usually voted present demonstrated rare leadership in springfield in opposition to the born alive act

    he was prominent member of the sliver who opposed partial birth legislation

    abortion extremism, anyone?

    seeya at the polls, progressives

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    Re: Study: States Over 4T in Debt

    Lucky we don't have more states.

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    Re: Study: States Over 4T in Debt

    Wait ... now they're blaming Obama for what STATE governments are doing?
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Study: States Over 4T in Debt

    Quote Originally Posted by AdamT View Post
    Wait ... now they're blaming Obama for what STATE governments are doing?
    Where did you gather that?

    California, again, led all states in total debt weighing in at $617 billion in unfunded liabilities. On a per capita basis, each Californian faces $16,386 in state debt.
    Let's let the EU colonize California. They love each other already anyway, and can solve their problems together.

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    Re: Study: States Over 4T in Debt

    Quote Originally Posted by AdamT View Post
    Wait ... now they're blaming Obama for what STATE governments are doing?
    I wouldn't. Be we can surely blame his party.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: Study: States Over 4T in Debt

    Quote Originally Posted by AdamT View Post
    Wait ... now they're blaming Obama for what STATE governments are doing?
    Quote Originally Posted by Neomalthusian View Post
    Where did you gather that?

    Oh maybe it might be the words we can read in the OP
    obama depends on the uninformed voter outpolling americans who follow what's going on

    unfortunately for our one term president, americans know
    “And I have no doubt that every new example will succeed, as every past one has done, in shewing that religion & Govt will both exist in greater purity, the less they are mixed together.”
    ~ James Madison, letter to Edward Livingston, July 10, 1822

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    Re: Study: States Over 4T in Debt

    Quote Originally Posted by MaggieD View Post
    I wouldn't. Be we can surely blame his party.
    I don't think that's quite fair, as California Republicans are far more liberal than Mississippi Democrats.

    Also, don't forget that the state of California gets less in federal spending than it pays in federal taxes. This is a problem for all the states with large economies as they are essentially subsidizing less economically virile areas.
    Also, we need to legalize recreational drugs and prostitution.

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    Re: Study: States Over 4T in Debt

    Quote Originally Posted by AdamT View Post
    Wait ... now they're blaming Obama for what STATE governments are doing?
    Everyone has to blame someone. No accountability. If something goes wrong it is someone else's fault. People blame local government, local government blames the state, state blames president, president blames previous president.
    “Most people do not listen with the intent to understand; they listen with the intent to reply.”
    Stephen R. Covey


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    Re: Study: States Over 4T in Debt

    Quote Originally Posted by samsmart View Post
    I don't think that's quite fair, as California Republicans are far more liberal than Mississippi Democrats.

    Also, don't forget that the state of California gets less in federal spending than it pays in federal taxes. This is a problem for all the states with large economies as they are essentially subsidizing less economically virile areas.
    At least here in Illinois, there is no question the issue stems from the party. Madigan and the Democrats have been enriching themselves and clutching to power for 25 years.

    Although to be fair, when i say "Illinois" is corrupt that mostly translates to the Chicago area pols.....they are a fascinating bunch.


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    Re: Study: States Over 4T in Debt

    Quote Originally Posted by Somerville View Post
    Oh maybe it might be the words we can read in the OP
    That still does not suggest anyone is blaming Obama for state level debt.

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