California is now at parity
https://www.sfchronicle.com/politics/article/California-no-l...
https://www.sfchronicle.com/politics/article/California-no-l...
The balance is made up by government debt, which will eventually be monetized by inflation, which acts as a tax on savers & retirees for the benefit of those who receive direct government payments. Not sure why more people aren't mad about this, but maybe the economic effects are a bit too indirect for people to notice.