Great news for California... but...

[Hung_Low]

According to the IMF's 2024 World Economic Outlook data release and BEA data California's nominal GDP reached $4.1 trillion, surpassing Japan's $4.02 trillion - mostly due to silicon valley and Hollywood.

Great news for CA... However, they're half a $trillion or over $500B in debt and fiscal year 24-25 saw a deficit of $68-73billion. The LAO projects that the state will continue to face annual operating deficits of around $30 billion per year in the coming years, potentially accumulating to $155 billion over the forecast window.

How do you get to be the 4th largest economy in the world and still be in debt and running in deficit - piss poor management and leaders.

It's getting so bad that LA county union workers are striking... but LA has no money to pay for the higher wage demand. They're asking the state, which is also operating in debt, to help. Do these people know that when you increase wage, everything goes up and soon, you're right back where you belong and begging for higher wages?

e.g. Oakland Lefties/Demmies kicked out Sheng Thao but elected another idiot who's advocating $50 minimum wage - no including benefits. The insanity just keeps on piling one after another...