Scandinavia and the World
Scandinavia and the World

Community made Fact Card:

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


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Karen

36
Moderator
8 years ago #9473311        
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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
6 years ago #9793651        
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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

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