What states have the best future ? (2010, unemployment, taxes)

[french paris]

During this crisis,a lot of states have problems of budget,growth,unemployment.....
What states have the best advantages to find the growth and why ?

[TANaples]

NY and California because they are diversified enough to come back.

[DailyJournalist]

NY, NJ, and PA

[PITTSTON2SARASOTA]

Originally Posted by TANaples

NY and California because they are diversified enough to come back.

I do not think California...with the state government handing out IOU's...it may actually "default"; with the rest of the nation bailing the state out. Florida is shaky at the moment also.

In the future it may be Northeast states; that did not experience hyper- inflated housing prices? Who knows...time will tell.

[sav858]

Originally Posted by PITTSTON2SARASOTA

I do not think California...with the state government handing out IOU's...it may actually "default"; with the rest of the nation bailing the state out. Florida is shaky at the moment also.

In the future it may be Northeast states; that did not experience hyper- inflated housing prices? Who knows...time will tell.

How is the rest of the nation "bailing out" CA anymore than any other state getting stimulus money? CA sends more money to the federal govt than it gets back, something like $.80 for every $1 sent.

And Ca isn't handing out IOU's anymore either.

[Boompa]

Originally Posted by sav858

How is the rest of the nation "bailing out" CA anymore than any other state getting stimulus money? CA sends more money to the federal govt than it gets back, something like $.80 for every $1 sent.

And Ca isn't handing out IOU's anymore either.

California's economy is twice the size of any other state. It is, by itself the 8th largest economy in the world. If it were a country it could print money and be over this. I think California recover in 5 years.

[Chicago60614]

Originally Posted by PITTSTON2SARASOTA

I do not think California...with the state government handing out IOU's...it may actually "default"; with the rest of the nation bailing the state out. Florida is shaky at the moment also.

In the future it may be Northeast states; that did not experience hyper- inflated housing prices? Who knows...time will tell.

Yeah, fiscally California is hurting about as bad as anyone. It may not be hitting RIGHT now to its fullest, but the seeds have been planted. Something will have to be done in that state that will probably upset a lot of people.

For decades the public has been able to vote on propositions, which has lead to the current mess that's been ages in the making. Vote down tax increases, vote for more services. Then just push push push everything forward as far as paying. At some point the **** hits the fan. Constant growth and investment has certainly helped though. It's kinda like the housing crisis. Everything chugs along while you keep inflating the prices and driving growth. Shut off the facet though and everything deflates.

[Chicago60614]

Originally Posted by Boompa

California's economy is twice the size of any other state. It is, by itself the 8th largest economy in the world. If it were a country it could print money and be over this. I think California recover in 5 years.

Just printing money to be over this would probably be the fastest way to watch the state collapse. Hyperinflation, loss of confidence, decline in exchange rate and investment. Suddenly your "$100" turns into "$40" overnight. Look at Argentina.

[sav858]

Originally Posted by Chicago60614

Yeah, fiscally California is hurting about as bad as anyone. It may not be hitting RIGHT now to its fullest, but the seeds have been planted. Something will have to be done in that state that will probably upset a lot of people.

For decades the public has been able to vote on propositions, which has lead to the current mess that's been ages in the making. Vote down tax increases, vote for more services. Then just push push push everything forward as far as paying. At some point the **** hits the fan. Constant growth and investment has certainly helped though. It's kinda like the housing crisis. Everything chugs along while you keep inflating the prices and driving growth. Shut off the facet though and everything deflates.

CA is a mess right now but this may be exactly what it needs to fix it's broken and messed up political system. It's a very dynamic state that doesn't look to just raise taxes as a way to solve problems. Several needed fundamental reforms have already put into place such as redistricting and open primaries, but that will take years to see if it helps the overall situation here. And many are calling for a new state constitution to deal with the mess we have created. A new constitution could fundamentally alter the way this state operates, which is badly needed. Hopefully the state comes out better b/c of this mess but only time will tell.

And CA's budget deficit may be huge but as a percentage of the overall budget, it's not the largest.

Highest Estimate of 2010 Deficit Percent of General Fund
1. Nevada $1.2 billion 32 percent
2. New York $17.65 billion 31.9 percent
3. Alaska $1.35 billion 30 percent
4. Arizona $3.0 billion 28.2 percent
5. Florida $6.0 billion 27 percent
6. California $24.79 billion 22.3 percent
7. Vermont $238 million 21.5 percent
8. Connecticut $3.968 billion 21.4 percent
9. Illinois $7.29 billion 21.2 percent
10. New Jersey $7.15 billion 20 percent

Moneynews - State Budget Deficits Explode

[machiavelli1]

Originally Posted by TANaples

NY and California because they are diversified enough to come back.

What about Texas?

TX is already hugely successful and more diverse as a whole than NY State both economically and culturally

Other states with a great future could be Massachusetts, Wisconsin, North Carolina, Idaho