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Re: How Trump’s Hudson Tunnel Snit Threatens the National Economy

Posted by AEM-7AC #901 on Tue Mar 6 02:56:32 2018, in response to Re: How Trump’s Hudson Tunnel Snit Threatens the National Economy, posted by Henry R32 #3730 on Mon Mar 5 21:26:02 2018.

creating some breathing room for states to raise their taxes

To be honest, there's a bit of a test case in Canada given that the Canadian federal government doesn't do as much as the US, and much of the responsibility is left to the provincial governments. The major difference is that Canadian provinces can run deficits unlike their US counterparts, and for sampling purposes, Ontario, the most populated province has $310B worth of debt for a province of nearly 13M residents. For comparison, California which is considered to be a "financial basketcase" has $400B worth of debt for 36M residents.

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