As I’ve noted before, the progressives have latched on the fact that California is the 7th(or 8th) largest economy in the world. It’s a “so there” rebuttal, intended to prove that all the bad economic policies in our Golden State have had little or no negative effect. But of course, this grand assertion is accompanied by zero analysis.
I’ve ripped this this misleading fact apart before — adjusting our state’s GDP for population and COL in other states. But now we have new, updated GDP state figures (mid-2014) to consider:
Let’s just look at California vs. Texas for now:
Latest GDP: California — $2,287 trillion
Texas — $1.503 trillion.
But, of course, this ignores the difference in population. California has about 44% more people than Texas.… Read More