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But it should be a part of 314BN from the first link, correct?
I can’t open that link but that piece concerns the federal so called, “National Debt.” As such the answer to your question is no. State and local debt totals are not accounted for in the national debt.
I can’t open that link but that piece concerns the federal so called, “National Debt.” As such the answer to your question is no. State and local debt totals are not accounted for in the national debt.
EDS, the first link is about deficit, not debt.
This is at the beginning of the piece: "...The U.S. federal budget deficit widened to $314 billion in November, up from $249 billion in the same month last year, the Treasury Department said Tuesday. Economists surveyed by the Wall Street Journal had expected the deficit to increase to $290 billion. For the first two months of the fiscal year, the deficit widened to $381 billion, up from $336 billion in the same period last year..."
Are you saying the CA deficit is not part of it? The thread is about CA deficit, but now you are mentioning debt. Which is it?
EDS, the first link is about deficit, not debt.
This is at the beginning of the piece: "...The U.S. federal budget deficit widened to $314 billion in November, up from $249 billion in the same month last year, the Treasury Department said Tuesday. Economists surveyed by the Wall Street Journal had expected the deficit to increase to $290 billion. For the first two months of the fiscal year, the deficit widened to $381 billion, up from $336 billion in the same period last year..."
Are you saying the CA deficit is not part of it? The thread is about CA deficit, but now you are mentioning debt. Which is it?
Sorry I should have been more careful. The national debt is an accumulation of federal deficits over time.
Just like TX, WY and ND, CA is just a projected deficit. The article even touched on (although I'm sure it's overlooked by news organizations) that they have reserve funds for this and they can cut spending. Many states play the horrid deficit game to sway spending in the upcoming years. Often it would be real if unchecked, but as we see all the time, things have a way of changing quickly when it becomes news. Remember, some states start the budget process by including every item everyone wants even though it's a 1,000 times the size of their previous budget. If it makes the news the first day it looks bad for the state but heck of a great headline. Come a month later when trimming took place, the budget story becomes ho-hum.
Where do you get your info - WY has the lowest state and local debt of any state. The total budget is about $4B and the state carries over a surplus because they are supposed to. CA's state and local debt is some 267 times that of WY - It would take over 130 years of zero income at current WY budget levels to get to CA's over $541 total debt and would need to spend about 15 times more with zero income to get to the CA deficit levels. ND is not far behind WY.
BTW - NY is second in total debt behind CA and a deficit of some $9.5B expected.
It may be a big deficit, but as a Californian myself I can go to sleep at night knowing not a single penny of that $68B was squandered or spent inappropriately.
It may be a big deficit, but as a Californian myself I can go to sleep at night knowing not a single penny of that $68B was squandered or spent inappropriately.
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