Tornado Alley (PROG)

[wall_street61]

thing is household vs government is not a valid comparison when it comes to debt .. there is a post on that somewhere ..

Okay, how about state vs federal.

How about California vs U.S.

California can't print their own money, hence they have a debt crisis. Obviously, their tax rates, which are higher than most all of the other states, have not lead to 'economic booms'.

If Krugman was correct, California would have a cash surplus. LOLOLLLLL