The economic grim reaper has his eyes on New York as the most indebted per person State.
Did you think the debt problem at the federal level was bad? New York has the highest debt per person of US States at a total debt per person of $31,536 compared to USA debt per person of $44,805. Meanwhile, the Chinese and foreign barbarians are closing in on US bonds and the underlying State bonds, because of federal and state budget excesses. Low bond interest rates or selling a bond will be fond memories, because of excessive debt per person.
These are the reports from outside:
Think US Debt is a problem; look at the States
How NY's Madoff like assumption of 7.5% safe return on investments will creates a giant deficit.
US follows the path of Greece and Portugal
US dollar becoming toxic
US debt increases despite budget agreement.
Inflation to return
Gas prices inflate
Will Cuomo's charm help? Buy this bond at the old interest rate and a framed iconic picture of Andrew Cuomo with an aura and the words "More Than Just Hope" will be provided for personal devotional use.
