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January 2, 2009 |
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2009-R-0009 |
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Per Capita State Bond Debt for 50 States |
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By: Judith Lohman, Chief Analyst
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You asked for the most recent available comparison of state debt for Connecticut and the other states. This report has been updated by OLR Report 2011-R-0431.
The attached tables show each state’s 2007 debt in two ways: per capita and as a percentage of personal income. For both measures, states are listed alphabetically and ranked from highest to lowest.
The information in the tables is calculated from data published by the U.S. Census Bureau (state debt outstanding at the end of the 2007 fiscal year and estimated state populations as of July 1, 2007) and the Bureau of Economic Analysis (state personal income for 2007).
TABLE 1: STATE PER-CAPITA DEBT,
2007
|
State |
PC Debt |
|
.Alabama |
$1,526 |
|
.Alaska |
9,621 |
|
.Arizona |
1,503 |
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.Arkansas |
1,593 |
|
.California |
3,153 |
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.Colorado |
3,078 |
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.Connecticut |
6,830 |
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.Delaware |
6,082 |
|
.Florida |
1,996 |
|
.Georgia |
1,194 |
|
.Hawaii |
4,665 |
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.Idaho |
1,880 |
|
.Illinois |
4,252 |
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.Indiana |
3,027 |
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.Iowa |
2,255 |
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.Kansas |
2,042 |
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.Kentucky |
2,563 |
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.Louisiana |
3,259 |
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.Maine |
4,049 |
|
.Maryland |
3,385 |
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.Massachusetts |
10,504 |
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.Michigan |
3,349 |
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.Minnesota |
1,711 |
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.Mississippi |
2,006 |
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.Missouri |
3,184 |
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.Montana |
4,861 |
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.Nebraska |
1,242 |
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.Nevada |
1,621 |
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.New Hampshire |
5,860 |
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.New Jersey |
5,938 |
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.New Mexico |
3,728 |
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.New York |
5,666 |
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.North Carolina |
2,129 |
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.North Dakota |
2,810 |
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.Ohio |
2,271 |
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.Oklahoma |
2,402 |
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.Oregon |
3,026 |
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.Pennsylvania |
2,989 |
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.Rhode Island |
7,994 |
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.South Carolina |
3,401 |
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.South Dakota |
4,062 |
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.Tennessee |
674 |
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.Texas |
1,003 |
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.Utah |
2,221 |
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.Vermont |
4,917 |
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.Virginia |
2,557 |
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.Washington |
3,265 |
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.West Virginia |
3,110 |
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.Wisconsin |
3,833 |
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.Wyoming |
2,303 |
TABLE 2: STATE PER-CAPITA DEBT 2007, RANKED
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Rank |
State |
PC Debt |
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1 |
.Massachusetts |
$10,504 |
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2 |
.Alaska |
9,621 |
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3 |
.Rhode Island |
7,994 |
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4 |
.Connecticut |
6,830 |
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5 |
.Delaware |
6,082 |
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6 |
.New Jersey |
5,938 |
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7 |
.New Hampshire |
5,860 |
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8 |
.New York |
5,666 |
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9 |
.Vermont |
4,917 |
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10 |
.Montana |
4,861 |
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11 |
.Hawaii |
4,665 |
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12 |
.Illinois |
4,252 |
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13 |
.South Dakota |
4,062 |
|
14 |
.Maine |
4,049 |
|
15 |
.Wisconsin |
3,833 |
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16 |
.New Mexico |
3,728 |
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17 |
.South Carolina |
3,401 |
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18 |
.Maryland |
3,385 |
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19 |
.Michigan |
3,349 |
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20 |
.Washington |
3,265 |
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21 |
.Louisiana |
3,259 |
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22 |
.Missouri |
3,184 |
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23 |
.California |
3,153 |
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24 |
.West Virginia |
3,110 |
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25 |
.Colorado |
3,078 |
|
26 |
.Indiana |
3,027 |
|
27 |
.Oregon |
3,026 |
|
28 |
.Pennsylvania |
2,989 |
|
29 |
.North Dakota |
2,810 |
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30 |
.Kentucky |
2,563 |
|
31 |
.Virginia |
2,557 |
|
32 |
.Oklahoma |
2,402 |
|
33 |
.Wyoming |
2,303 |
|
34 |
.Ohio |
2,271 |
|
35 |
.Iowa |
2,255 |
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36 |
.Utah |
2,221 |
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37 |
.North Carolina |
2,129 |
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38 |
.Kansas |
2,042 |
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39 |
.Mississippi |
2,006 |
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40 |
.Florida |
1,996 |
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41 |
.Idaho |
1,880 |
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42 |
.Minnesota |
1,711 |
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43 |
.Nevada |
1,621 |
|
44 |
.Arkansas |
1,593 |
|
45 |
.Alabama |
1,526 |
|
46 |
.Arizona |
1,503 |
|
47 |
.Nebraska |
1,242 |
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48 |
.Georgia |
1,194 |
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49 |
.Texas |
1,003 |
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50 |
.Tennessee |
674 |
TABLE 3: STATE DEBT AS A PERCENT OF PERSONAL INCOME, 2007
|
State |
% of Personal Income |
|
.Alabama |
4.71 |
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.Alaska |
24.01 |
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.Arizona |
4.58 |
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.Arkansas |
5.28 |
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.California |
7.55 |
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.Colorado |
7.47 |
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.Connecticut |
12.38 |
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.Delaware |
15.13 |
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.Florida |
5.20 |
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.Georgia |
3.56 |
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.Hawaii |
11.89 |
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.Idaho |
5.92 |
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.Illinois |
10.37 |
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.Indiana |
9.12 |
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.Iowa |
6.47 |
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.Kansas |
5.60 |
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.Kentucky |
8.31 |
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.Louisiana |
9.28 |
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.Maine |
11.91 |
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.Maryland |
7.26 |
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.Massachusetts |
21.43 |
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.Michigan |
9.73 |
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.Minnesota |
4.16 |
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.Mississippi |
7.04 |
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.Missouri |
9.37 |
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.Montana |
14.65 |
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.Nebraska |
3.42 |
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.Nevada |
4.07 |
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.New Hampshire |
14.10 |
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.New Jersey |
12.01 |
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.New Mexico |
12.15 |
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.New York |
12.22 |
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.North Carolina |
6.31 |
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.North Dakota |
7.79 |
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.Ohio |
6.59 |
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.Oklahoma |
6.86 |
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.Oregon |
8.61 |
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.Pennsylvania |
7.71 |
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.Rhode Island |
20.04 |
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.South Carolina |
10.95 |
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.South Dakota |
11.38 |
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.Tennessee |
2.02 |
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.Texas |
2.70 |
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.Utah |
7.45 |
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.Vermont |
13.12 |
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.Virginia |
6.14 |
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.Washington |
7.93 |
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.West Virginia |
10.60 |
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.Wisconsin |
10.57 |
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.Wyoming |
4.90 |
TABLE 4: STATE DEBT AS A PERCENT OF PERSONAL INCOME, 2007, RANKED
|
Rank |
State |
% of Personal Income |
|
1 |
.Alaska |
24.01 |
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2 |
.Massachusetts |
21.43 |
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3 |
.Rhode Island |
20.04 |
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4 |
.Delaware |
15.13 |
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5 |
.Montana |
14.65 |
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6 |
.New Hampshire |
14.10 |
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7 |
.Vermont |
13.12 |
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8 |
.Connecticut |
12.38 |
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9 |
.New York |
12.22 |
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10 |
.New Mexico |
12.15 |
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11 |
.New Jersey |
12.01 |
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12 |
.Maine |
11.91 |
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13 |
.Hawaii |
11.89 |
|
14 |
.South Dakota |
11.38 |
|
15 |
.South Carolina |
10.95 |
|
16 |
.West Virginia |
10.60 |
|
17 |
.Wisconsin |
10.57 |
|
18 |
.Illinois |
10.37 |
|
19 |
.Michigan |
9.73 |
|
20 |
.Missouri |
9.37 |
|
21 |
.Louisiana |
9.28 |
|
22 |
.Indiana |
9.12 |
|
23 |
.Oregon |
8.61 |
|
24 |
.Kentucky |
8.31 |
|
25 |
.Washington |
7.93 |
|
26 |
.North Dakota |
7.79 |
|
27 |
.Pennsylvania |
7.71 |
|
28 |
.California |
7.55 |
|
29 |
.Colorado |
7.47 |
|
30 |
.Utah |
7.45 |
|
31 |
.Maryland |
7.26 |
|
32 |
.Mississippi |
7.04 |
|
33 |
.Oklahoma |
6.86 |
|
34 |
.Ohio |
6.59 |
|
35 |
.Iowa |
6.47 |
|
36 |
.North Carolina |
6.31 |
|
37 |
.Virginia |
6.14 |
|
38 |
.Idaho |
5.92 |
|
39 |
.Kansas |
5.60 |
|
40 |
.Arkansas |
5.28 |
|
41 |
.Florida |
5.20 |
|
42 |
.Wyoming |
4.90 |
|
43 |
.Alabama |
4.71 |
|
44 |
.Arizona |
4.58 |
|
45 |
.Minnesota |
4.16 |
|
46 |
.Nevada |
4.07 |
|
47 |
.Georgia |
3.56 |
|
48 |
.Nebraska |
3.42 |
|
49 |
.Texas |
2.70 |
|
50 |
.Tennessee |
2.02 |
JSL:tjo