It is also the poorest state in the USA when cost of living is factored. Basically California is descending into a sub-US level of development – somewhere between the USA and the developing world.
It’s not quite there yet, but in 5 years its hard to see how it won’t be. What we see in California is a real tragedy. The Once Golden State has squandered it’s ‘wealth’.
California, with its suffocating cost of living and huge population, is home to an inordinate number of households receiving public assistance. In fact, with $103 billion going toward welfare, the Golden State’s spending on the financially needy is more than the next two on the list combined.
New York, at number two, paid out $61.4 billion in 2015, while Texas, in the third spot, spent $35.4 billion, according to U.S. Census Bureau data.