| Rank | State | Gross State Product (US$ billions) |
| 1 | California | 1,813.0 |
| 2 | Texas | 1,142.0 |
| 3 | New York | 1,103.0 |
| 4 | Florida | 734.5 |
| 5 | Illinois | 609.6 |
| 6 | Pennsylvania | 531.1 |
| 7 | Ohio | 466.3 |
| 8 | New Jersey | 465.5 |
| 9 | North Carolina | 399.4 |
| 10 | Georgia | 396.5 |
| Rank | Country | Gross Domestic Product (US$ billions) |
| 1 | United States | 13,841.4 |
| 2 | Japan | 4,375.4 |
| 3 | Germany | 3,325.8 |
| 4 | China | 3,280.6 |
| 5 | United Kingdom | 2,770.2 |
| 6 | France | 2,558.7 |
| 7 | Italy | 2,103.2 |
| 8 | Spain | 1,438.0 |
| 9 | Canada | 1,425.9 |
| 10 | Brazil | 1,313.3 |
Source: The US Conference of Mayors, 2007
That statement was valid at least until 2007. How about now, after financial meltdown and eroding property values? True, the Golden State is going broke and experiencing budget deficits. But so do other 47 states. How bad are the budget shortfalls? Here are ten states with the largest budget gaps:
| State | FY2010 before budget adoption (US$ billions) | FY2010 mid year gap (US$ billions) | FY2010 Total (US$ billions) | FY2010 Total – % of Budget |
| California | $26.00 | $19.5 | $45.50 | 49.30% |
| New York | $17.90 | $2.1 | $20.00 | 36.10% |
| Illinois | $13.20 | 0 | $13.20 | 37.70% |
| New Jersey | $8.80 | 0 | $8.80 | 29.90% |
| Florida | $5.90 | 0 | $5.90 | 22.80% |
| Massachusetts | $5.00 | 0 | $5.00 | 17.90% |
| Pennsylvania | $4.80 | N/A | $4.80 | 18.00% |
| North Carolina | $4.60 | 0 | $4.60 | 21.90% |
| Connecticut | $4.20 | N/A | $4.20 | 23.90% |
| Georgia | $3.10 | $1.0 | $4.10 | 23.80% |
| US | $139.4 | $25.7 | $165.00 | 24.00% |
Source: Center on Budget and Policy Priorities
Copyright © 2009 wealthaspiration.com - All Rights Reserved
Posts
No comments:
Post a Comment