The report merges the states' outstanding debts, their unemployment insurance loans from the federal government, pension liabilities and fiscal 2011 budget deficits to arrive at the $4 trillion total. State Budget Solutions describes itself as a non-partisan and pro-reform organization, although its partners listed on the main site and state affiliate sites include the American Legislative Exchange Council (ALEC).
On a per-capita basis, Connecticut possesses the most debt, owing $5,402 for each resident. Hawaii ranks second with $4,755 of debt per capita, and New Jersey sits in third with $4,217.
At the other end of the spectrum, Nebraska owes only $21 for each citizen. Wyoming faces just $78 in debt per capita, and Indiana places third with $198 owed per resident.
Based on pure dollars, California is the most indebted state, more than doubling New York, which finished second. California has accrued an aggregate debt of $612 billion; New York has $305.3 billion on its books. Texas followed with $282.6 billion. Not coincidentally, those are the three most populous states in the union.
Vermont has the least amount of debt to pay off: $6 billion. North Dakota was the second least indebted with $6.2 billion, and its southern neighbor, South Dakota, followed with $6.5 billion in debt.
View a map of debts for each state:
Click a state for debt amounts. Figures were compiled by State Budget Solutions, which obtained the "ratio of outstanding debt by type" from each state's most recent CAFR report.
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