Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for banking industry professionals · Saturday, June 7, 2025 · 820,034,088 Articles · 3+ Million Readers

Californians pay Trump’s bills

As a recent Bloomberg column stated: “It should go without saying California is critical to US economic dominance globally, accounting for more than 14% of US’s $28 trillion of GDP as measured by the World Bank and more than 50% greater than the next largest state by the size of its economy Texas.”

Early this year, Paul Krugman, the 2008 Nobel Laureate in economics, wrote that California is “an economic and technological powerhouse” that “is literally subsidizing the rest of the United States, red states in particular, through the federal budget. Without California, “America would be a lot poorer and weaker than it is.”

And according to most recent data (2022), California contributes nearly $700 billion to the federal government. Simply put, as California goes — so goes the country.

 

Powered by EIN Presswire

Distribution channels:

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

Submit your press release