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>> the United States doesn’t have its own version of the Greek debt crisis is huge, permanents fiscal transfers from blue states to red ones. The Greek debt cr
by landemva 4y ago
>> the United States doesn’t have its own version of the Greek debt crisis is huge, permanents fiscal transfers from blue states to red ones.
The Greek debt crisis happened because those southern countries joined the euro without centralizing country debts up to EU. Greece still had it's debt yet could no longer service it by printing it's own currency. At inception, USA federal took over State debts.
Nebraska is a red State and has about $1000 State debt per resident. Not likely to go bankrupt before blue Illinois.
https://www.270towin.com/maps/blue-red-states-2000-thru-2012 https://www.270towin.com/maps/blue-red-states-2000-thru-2012
https://worldpopulationreview.com/state-rankings/debt-by-state https://worldpopulationreview.com/state-rankings/debt-by-sta...
- TheCoelacanth 4y agoThat debt is after federal transfers, though. Illinois loses a net of $4.7k/year/person to federal transfers[1]. Get rid of that and they could pay off their full debt in a few years. [1] https://worldpopulationreview.com/state-rankings/donor-states https://worldpopulationreview.com/state-rankings/donor-state...