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Several US states are heading toward bankruptcy. NY is very generous with its social spending, while at the same time driving businesses and individuals out via
by ctdonath 11y ago
Several US states are heading toward bankruptcy. NY is very generous with its social spending, while at the same time driving businesses and individuals out via oppressive policies. PR, as noted, just declared its $72B debt is unpayable. Other states are approaching similar conditions.
- mikeash 11y agoPuerto Rico's debt is 70% of GDP. The worst debt-to-GDP ratio among the states is New York, at about 25%. The states have a long way to go before they look like PR.
- ctdonath 11y agoThe USA federal government (not states, just umbrella) has a 100% debt-to-GDP ratio.
- dragonwriter 11y ago> Several US states are heading toward bankruptcy. The only thing you've pointed to that looks anything remotely like heading toward bankruptcy is Puerto Rico, which is not a state.