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The per-capita deficit isn't really that meaningful. $1000 a person isn't even that much - each citizen of the USA would have to pay $35,462.89 to cancel out t

The per-capita deficit isn't really that meaningful. $1000 a person isn't even that much - each citizen of the USA would have to pay $35,462.89 to cancel out the country's national debt. the reason it's not a problem is because our national debt is only like 75% of GDP. comparatively, California's deficit of $41 billion is only 2.4% of their GDP. it's a little different because California can't print money, but nothing to get all armageddon-y about. raise some taxes, decrease some spending, seize some swiss bank accounts and call it a day. another point of comparison - we've already given way more than $41 billion to SINGLE corporations like AIG, not to mention bank of america, citi, fannie, freddie, etc. personally, i'd much rather bail out states than corporations. spending money on teachers - the horror!!

miked 18y ago
>> $1000 a person isn't even that much - each citizen of the USA would have to pay $35,462.89 to cancel out the country's national debt. This is mixing apples and oranges. The $1,100 deficit is this year's deficit. The US's $35K/person is total accumulated. >> i'd much rather bail out states than corporations. Why bail out any of them? Whatever is subsidized you get more of. Bailouts will lead to even more fiscal irresponsibility.
baguasquirrel 18y ago
It's also worth pointing out that per-capita income is much higher in CA than it is elsewhere, NY including. We need to pay our teachers here that much just so that they can afford the rent. The rent is that expensive because there are too many rich Californians. =P