Scandinavia and the World
 

Community made Fact Card:

The state of California has more debt than the nation of Greece.
      made by lowericon


Comments:
 
sort by: direction:
Karen

36
Moderator
6 years ago #9473311        
1
 
0
 

True:

http://www.usdebtclock.org/state-debt-clocks/state-of-california-debt-clock.html
http://www.nationaldebtclocks.org/debtclock/greece

Debt per citizen is much lower in California, however, due to the much larger population (39,2m vs. 10,8m), and the per-capita income in California significantly higher.

Irish

17
3 years ago #9793651        
0
 
1
 

but unlike Greece, California actually has a revenue source, here is how it works
CA buys a thing---> CA has Debt---> Ca Takes a loan to pay for debt---> Ca uses bought thing to make new thing---> Ca sells new thing---> Ca sells thing to pay for loan and original bought thing.
And that's how it works for the whole us

Add comment: Please Sign in or create an accout to comment.