California

2014 Data (Released 06/05/2015)

Financial State of California

Press Release

 
California owes more than it owns
At -$20,900, California's “Taxpayer's Burden” ranks 44th out of the 50 states
California is among 39 “Sinkhole States” without enough assets to cover its debt
Elected officials have created a Taxpayer Burden, which is each taxpayer's share of state bills after its assets available have been tapped
TIA's Taxpayer Burden measurement incorporates both assets and liabilities, not just pension debt
California has only $93.8 billion of assets available to pay bills totaling $328.3 billion
To fill the $234.5 billion financial hole each California taxpayer would have to send $20,900 to the state
The state's financial report was released 269 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

2013 Financial State of California

 

Other Resources

California Comprehensive Annual Financial Report

Publishing Entity:  California Controller

Financial State of 10 Largest US Cities

Los Angeles

San Jose

San Diego

IN THE NEWS
A few crumbs for private workers

APRIL 21, 2016 | THE AMERICAN SPECTATOR

Treasurer John Chiang said California is "set to herald in the most significant change to retirement savings since Social Security was enacted as part of President Franklin D. Roosevelt's New Deal in the 1930s."

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