Ah, well that would bump it up to about 500 or so per year per person at 5 per.
So while not quite insolvent, well down the road. About 1 percent of everyone’s income in the state now going to debt repayment - after assets are taken into account.
If California adds about 5 billion in debt a year - that would add about 166 dollars per person per year total debt and about 8.3 dollars in interest per person per year. To hit insolvency (which would be where the interest exceeds disposable income), they would hit it in about 100 years - when the interest would be about 10 percent of what the state earns in total at 5 percent.
So default is unlikely to happen at present.
How many people are left paying taxes in California? 40% tops? I would double your numbers. And California is doing nothing to stem the tide of future Calper’s and welfare cases. I put the number of years at 10.
If interest rates go-up to 20% along with inflation your numbers are way off. You are assuming low interest rates and steady inflation is here forever.