Corrupt democrat hellhole states... what a surprise.. /s
Not sure this is the best way to view the issue. A state that is growing and has a growing large tax base is not in the same position as a state that is shrinking and has a shrinking population and business tax base. Illinois is not the same as Texas. Illinois can’t possibly pay its dept now or in the future no matter how austere their policies get.
And California may be in the most trouble of all. Their business tax base is vast. But it is leaving quickly to states like Texas. And with a 12% state income tax plus every other tax known to man, companies almost have to leave. And their employees are leaving before them. Their surplus will disappear if the stock market does not continually go up and if companies continue to move to Texas. California will find it impossible to lower their taxing or their spending down.
Not Texas.
Not Texas.