California's Net Worth...

We're talking about the net worth of the state government, not of all the people and businesses in the state.  The net worth of the state government is the sum of all its assets (buildings, land, cash, investments, taxes due) minus the sum of all the liabilities (debts, pension obligations, etc.).  For most of California's history, the net worth of the state has been somewhere between a few billion dollars negative to several hundred billion positive (the latter during Ronald Reagan's term).  Today: -127.2 billion dollars.  That's over $3,000 for each man, woman, and child in the state.  Sheesh...