If you live in the United States, on thing you may hear on a regular basis is the economic condition of the state of California. The short version of the story – it is not good at all. The state is in (or, very, very, very close too) economic collapse. At one point this year the state had to issue IOUs. If there was ever a sign you have economic problems, IOUs would be a good indicator to me.
Anyway.
What people don’t seem to realize, or be paying attention to, is that 9 other states are in the same economic boat as California. The Pew Center on the States did a comparison to see which fall into the “California dead zone” in their piece “How does your state compare with California?” The 9 state most like California (economically speaking) are:
- Oregon
- Nevada
- Arizona
- Wisconsin
- Illinois
- Michigan
- New Jersey
- Rhode Island
- Florida
Obviously, some states are hurting more than other but with budget gaps in Arizona (41.1%), Illinois (47.3%), and Nevada (37.8%) so large, can it be long before something negative happens?
Related posts:
- If the RIAA has decided to stop suing people who are download, why have they filed 21 suits in the last three weeks?
- Silver State Bank is #11 to shut down this year. Fannie Mae, Freddie Mac may be taken over this weekend.
- Autoworkers Breakdown by State
- Sorry, your economic problems did not go away
- Economic meltdown day number… hell… I've lost count…