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Old 01-28-2011, 10:38 PM
 
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Quote:
Originally Posted by Thomas R. View Post
Among states South Dakota, Wyoming, and Nebraska look best according to this as "NGO" apparently means "No General Obligation debt." Iowa, North Dakota, Montana, and Vermont are listed as pretty minimal. My birth state of Arkansas seems to be among the ten lowest in debt if I'm reading the chart right.

The worst on this look to be California, New York, New Jersey, Massachusetts, and Illinois. My current state is somewhere in the middle.
It's funny how all of the states with "NGO" debt also pay less in federal taxes than what is spent on them whereas the ones which are supposedly in the worst shape pay significantly more in federal taxes than they get back.
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Old 01-29-2011, 03:35 AM
 
Location: 30-40N 90-100W
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That did enter my mind a bit. However Nebraska gets in about $1.10 of the dollar in puts in and Vermont is closer to parity. Still it does seem to work to an extent.

For outliers of the states that "pay more than they get back", in federal taxes, Texas and New Hampshire seem to be doing okay/better-than-average on debt. Of the states that "get back more than they pay", in federal taxes, Hawaii and Kentucky look maybe the worst. Although I might be misreading it.

Some States Get Fat, Others Fleeced - by Nate Bailey - Budget & Tax News
2010 State Debt Medians Report, Moody's Investors Service
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Old 01-29-2011, 08:32 AM
 
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They are off base with Texas.

http://www.nytimes.com/2011/01/07/op...=2&ref=opinion
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Old 01-29-2011, 10:26 AM
 
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Originally Posted by Thomas R. View Post
That did enter my mind a bit. However Nebraska gets in about $1.10 of the dollar in puts in and Vermont is closer to parity. Still it does seem to work to an extent.
I agree about VT, but the rest of them aren't even close to parity. The point is that the states in the most supposed trouble get a -20% return while several others get close to a 200% return (most of them are in the plains or the deep south). In California, that -20% accounts for close to $65 billion.

Quote:
For outliers of the states that "pay more than they get back", in federal taxes, Texas and New Hampshire seem to be doing okay/better-than-average on debt. Of the states that "get back more than they pay", in federal taxes, Hawaii and Kentucky look maybe the worst. Although I might be misreading it.
Yes, but I believe TX is in a bit more trouble than they have let on (close to $25 billion in the hole).

I can understand Hawaii being in the position it is. It's the only state that is in the middle of the pacific. Therefore, it's fairly obvious that it is going to need collective support and its relatively strong military presence does account for some of it. Kentucky is just ass-backwards.
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Old 01-29-2011, 01:40 PM
 
Location: NY/FL
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Originally Posted by BacktoBlue View Post
State budget deficits are for government services like education boards, welfare programs, etc not debt.

This interactive map is for the debt measured from the national debt and what states borrow more from the national government than lend to national government. Budget deficits are hardly ever involving the civilian population, but total debt is the debt per capita of every one in the state..

My state of New York looks awfully swarmed in debt
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Old 01-29-2011, 02:09 PM
 
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New York, Illinois, and California pay more federal taxes to the government then they get back.
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Old 01-29-2011, 05:12 PM
 
Location: 30-40N 90-100W
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Originally Posted by BacktoBlue View Post
Maybe, but Krugman is really a guy with an ax to grind (Granted he won a Nobel Prize, but that was when they were in a fit of giving Nobel Prizes for opposing George W. Bush) so I'm not sure I'd trust his say so. Added to that the article is an opinion piece about bashing conservatives. Finally his source is a budget group pretty strongly supported by Democratic Party groups.

Still it is a support for his claim. And as dubious as I am of Krugman, which is almost as dubious as I'd be of Sean Hannity, there are regular news articles that support him on them having a major problem.

http://www.dallasnews.com/news/state...et-deficit.ece

So I guess New Hampshire is the only example of "pays more than it gets and doesn't have much of a debt problem" states.

Last edited by Thomas R.; 01-29-2011 at 05:24 PM..
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Old 01-29-2011, 05:30 PM
 
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Quote:
Originally Posted by Thomas R. View Post
Maybe, but Krugman is really a guy with an ax to grind (Granted he won a Nobel Prize, but that was when they were in a fit of giving Nobel Prizes for opposing George W. Bush) so I'm not sure I'd trust his say so. Added to that the article is an opinion piece about bashing conservatives. Finally his source is a budget group pretty strongly supported by Democratic Party groups.

Still it is a support for his claim. And as dubious as I am of Krugman, which is almost as dubious as I'd be of Sean Hannity, there are regular news articles that support him on them having a major problem.

What would veteran lawmakers do about Texas

So I guess New Hampshire is the only example of "pays more than it gets and doesn't have much of a debt problem" states.
Daily Kos: State of the Nation
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Old 01-29-2011, 06:08 PM
 
Location: 30-40N 90-100W
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Originally Posted by BacktoBlue View Post
I think you should read the post closer.

One: On my own news search I decided that yes they do have a big deficit problem.

Two: If I'm skeptical of Krugman for being too far Left why would you respond by linking to the Daily Kos?
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