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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 378.38

+2.7%

Nov 10 4:00 PM EST

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To: TobagoJack who wrote (63717)	5/19/2010 7:34:39 AM
From: Haim R. Branisteanu	Read Replies (2) of 217669

From the report you e-mailed me - the difference CA is a 1.8 trillion economy and NY and ILL are in similar situation - comparing EU v US Sizing up the Risks The comparison isn't quite as flattering once the federal government is added to the mix. Since federal taxes have a claim on incomes in every state, a proportional amount of federal debt should be added to a given state's burden for a proper comparison. For example, adding California?s FY2010 state deficit, projected to be 2.5% of state GDP, to the state's proportional share of the 2010 federal deficit, which we estimate to be 10.7% of GDP, produces a number very similar to Greece's 12.5% deficit. However, the debt comparison is more favorable, with a 70% of GDP combined state-federal gross debt ratio versus 115% in Greece (or 47% vs. 86% on a net basis). Regardless of the links between them, states and the federal government face similar fiscal risks, which generally fall into three general categories.

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