How much debt is the state of California in?
While New York leads the country in terms of per capita government debt, at $18,411 per person, California, the most populous state, has the largest amount of total debt, at $507 billion.
How much money does California have?
The economy of the State of California is the largest in the United States, boasting a $3.0 trillion gross state product (GSP) as of 2020. If California were a sovereign nation (2020), it would rank as the world’s fifth largest economy, ahead of India and behind Germany.
When did the US have a surplus of money?
2001
A surplus occurs when the government collects more money than it spends. The last federal surplus occurred in 2001. The government primarily uses surpluses to reduce the federal debt.
Which US state is the most financially stable?
Alaska is the top state for fiscal stability. It’s followed by South Dakota, Tennessee, Idaho and Utah to round out the top five.
Does California have the highest debt?
California has the fifth-highest debt of any state, with total liabilities coming out to $362.87 billion.
Which states are not in debt?
States with the Least Debt
- Texas. Texas has the lowest debt of any state in the U.S. Alaska’s total liabilities add up to $222.64 billion, and its total assets add up to $356.01 billion, giving Texas the highest net position in the country of $115.08 billion.
- Florida.
- Alaska.
- North Carolina.
- Tennessee.
What states have no debt?
What was the budget surplus for California last year?
California Gov. Gavin Newsom (D) announced Monday that California surprisingly amassed a $75.7 billion budget surplus last year, and he will propose using some of that windfall for direct payments to state residents earning up to $75,000 a year.
How much money is in the California comeback plan?
Fueled by a resurgent economy, a surge in state revenues and additional federal recovery funds, the $75.7 billion surplus reflected in the California Comeback Plan stands in stark contrast to the $54.3 billion budget shortfall estimated just over a year ago.
What was the budget deficit for California last year?
Last year, California officials warned about facing a budget deficit of up to $50 billion, but a combination of federal pandemic aid and capital gains taxes from wealthy California stock market investors filled state coffers.
How much money does California get from the federal government?
California is due to receive $26 billion in direct federal aid, and Newsom has included that amount in a $100 billion package he’s dubbing the “California Comeback Plan” as he campaigns against the recall.