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California / California Becomes the State With the Highest Debt as Reliance on Taxpayers Backfires
« Last post by rangerrebew on Today at 11:10:22 am »California Becomes the State With the Highest Debt as Reliance on Taxpayers Backfires
©Source: Pinterest
California, one of the most populated states in the United States, never ceases to have pressing issues. The big state is currently battling with a huge debt that has reached approximately $21 billion.
The genesis of this huge debt can be traced back to the pandemic period when the state had to borrow a huge sum from the federal government to pay for unemployment benefits. Also, the state currently accounts for 20% of the nation’s unemployment, which contributed to the state’s financial problems.
https://www.msn.com/en-us/money/markets/california-becomes-the-state-with-the-highest-debt-as-reliance-on-taxpayers-backfires/ss-BB1m70La?ocid=widgetonlockscreen&cvid=c81f2dd049b74a24a80ec75ddbadf6f4&ei=87#image=1
©Source: Pinterest
California, one of the most populated states in the United States, never ceases to have pressing issues. The big state is currently battling with a huge debt that has reached approximately $21 billion.
The genesis of this huge debt can be traced back to the pandemic period when the state had to borrow a huge sum from the federal government to pay for unemployment benefits. Also, the state currently accounts for 20% of the nation’s unemployment, which contributed to the state’s financial problems.
https://www.msn.com/en-us/money/markets/california-becomes-the-state-with-the-highest-debt-as-reliance-on-taxpayers-backfires/ss-BB1m70La?ocid=widgetonlockscreen&cvid=c81f2dd049b74a24a80ec75ddbadf6f4&ei=87#image=1