Right now the Europeans and their States like Greece are feeling the heat. And the cat is now out of the bag about State debt in the USA. In the latest news California beat out New York for the highest total debt by $612 billion to $305 billion. This needs to be corrected by debt per person or using populations of 34 million for California and 19 million for New York which results in $18,000 for California and $16,000 for New York.
But these are only state government debts and when you include local debt, New York comes out on top at $24,195 per person. Right now investors are concerned over Greece and Europe, but that will change to the US States soon hereafter. The debt chickens for USA States will be coming home to roost very soon.
Will they still love Andrew when the State's down and out broke?