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Old 10-28-2019, 12:46 PM #39091
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Old 10-28-2019, 01:04 PM #39092
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Originally Posted by 1bad65 View Post
And yet they'd be a debtor nation.

They would be a Greece waiting to happen.


It ain't about what you bring in. It's all about what you spend. It's how guys like Mike Tyson and Evander Holyfield end up broke despite making hundreds of millions of dollars.
California actually doesnt have that big a debt.

I think at its highest point it was $131 billion back during the recession.

California just makes too much money.

$3 trillion gdp per year.

Not only do they have a large economy but they tax high too.

California actually runs surplus recent years.

California is one of the few states that has good bond credit rating.

California and Kansas I believe.
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Old 10-28-2019, 01:08 PM #39093
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Old 10-28-2019, 01:11 PM #39094
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Originally Posted by Left Hook Tua View Post
California actually doesnt have that big a debt.

I think at its highest point it was $131 billion back during the recession.

California just makes too much money.

$3 trillion gdp per year.

Not only do they have a large economy but they tax high too.

California actually runs surplus recent years.

California is one of the few states that has good bond credit rating.

California and Kansas I believe.
Um, no.

You cant have a surplus when you have unfunded liabilities.


Which begs the question, if they are doing so well, why cant they pay their bills?
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Old 10-28-2019, 01:19 PM #39095
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Originally Posted by 1bad65 View Post
Um, no.

You cant have a surplus when you have unfunded liabilities.


Which begs the question, if they are doing so well, why cant they pay their bills?
What is one to do when the cost of surfboard wax goes up? Some bills, obviously, must remain unpaid...ů..Rockin'
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Old 10-28-2019, 01:33 PM #39096
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Originally Posted by Left Hook Tua View Post
California actually doesnt have that big a debt.

I think at its highest point it was $131 billion back during the recession.

California just makes too much money.

$3 trillion gdp per year.

Not only do they have a large economy but they tax high too.

California actually runs surplus recent years.

California is one of the few states that has good bond credit rating.

California and Kansas I believe.
Heres some info.
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Old 10-28-2019, 01:36 PM #39097
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Old 10-28-2019, 03:28 PM #39098
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Um, no.

You cant have a surplus when you have unfunded liabilities.


Which begs the question, if they are doing so well, why cant they pay their bills?
That is like the surplus the have in NY from time to time. It is money they haven't paid out that fiscal year. As soon as they make the payments they are back in the hole.
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Old 10-28-2019, 03:55 PM #39099
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Heres some info.
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I've read different as far as state budget.

Maybe the figures are off when you start factoring city and county govt as well.

A lot of california cities and counties went bankrupt.

But I remember California had several years of surplus.

It was big news.

Those idiots didnt know what to do with the money.

They ended up wasting it on stupid crap like $100s of millions on anti smoking commercials or some crap.
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Old 10-28-2019, 04:15 PM #39100
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Originally Posted by Left Hook Tua View Post
I've read different as far as state budget.

Maybe the figures are off when you start factoring city and county govt as well.

A lot of california cities and counties went bankrupt.

But I remember California had several years of surplus.

It was big news.

Those idiots didnt know what to do with the money.

They ended up wasting it on stupid crap like $100s of millions on anti smoking commercials or some crap.
Again, that is false.

Yes, the lifer politicians may have said they had a surplus, but as we all know, lifer politicians lie constantly.

They used accounting gimmicks that would get private sector CEOs thrown in prison to make the false claim they had a surplus.


True story...
Awhile back my coworker Steve came to me with a problem. Steve was short money that month and didn't know what to do. I told Steve that if he had a good payment history, he could call the bank that he was paying his vehicle note on and ask them to let him slide on that month's payment and roll it to the backend of the loan.

Sure enough, Steve did just that.

Steve was not running around bragging about this massive surplus he had that month, because Steve isnt a stupid liberal.

See, CA still owes that money (iirc the biggest unfunded liabilities are State workers pensions). They just quit paying on it in order to cook the books.

Only those ignorant of the most basic of Economics fell for the lie that CA has any kind of surplus whatsoever.
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