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BONDS; BUDGET, STATE;

OLR Research Report


January 2, 2009

 

2009-R-0009

PER CAPITA STATE BOND DEBT FOR 50 STATES

By: Judith Lohman, Chief Analyst

You asked for the most recent available comparison of state debt for Connecticut and the other states.

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

.Arkansas

1,593

.California

3,153

.Colorado

3,078

.Connecticut

6,830

.Delaware

6,082

.Florida

1,996

.Georgia

1,194

.Hawaii

4,665

.Idaho

1,880

.Illinois

4,252

.Indiana

3,027

.Iowa

2,255

.Kansas

2,042

.Kentucky

2,563

.Louisiana

3,259

.Maine

4,049

.Maryland

3,385

.Massachusetts

10,504

.Michigan

3,349

.Minnesota

1,711

.Mississippi

2,006

.Missouri

3,184

.Montana

4,861

.Nebraska

1,242

.Nevada

1,621

.New Hampshire

5,860

.New Jersey

5,938

.New Mexico

3,728

.New York

5,666

.North Carolina

2,129

.North Dakota

2,810

.Ohio

2,271

.Oklahoma

2,402

.Oregon

3,026

.Pennsylvania

2,989

.Rhode Island

7,994

.South Carolina

3,401

.South Dakota

4,062

.Tennessee

674

.Texas

1,003

.Utah

2,221

.Vermont

4,917

.Virginia

2,557

.Washington

3,265

.West Virginia

3,110

.Wisconsin

3,833

.Wyoming

2,303

TABLE 2: STATE PER-CAPITA DEBT 2007, RANKED

RANK

STATE

PC DEBT

1

.Massachusetts

$10,504

2

.Alaska

9,621

3

.Rhode Island

7,994

4

.Connecticut

6,830

5

.Delaware

6,082

6

.New Jersey

5,938

7

.New Hampshire

5,860

8

.New York

5,666

9

.Vermont

4,917

10

.Montana

4,861

11

.Hawaii

4,665

12

.Illinois

4,252

13

.South Dakota

4,062

14

.Maine

4,049

15

.Wisconsin

3,833

16

.New Mexico

3,728

17

.South Carolina

3,401

18

.Maryland

3,385

19

.Michigan

3,349

20

.Washington

3,265

21

.Louisiana

3,259

22

.Missouri

3,184

23

.California

3,153

24

.West Virginia

3,110

25

.Colorado

3,078

26

.Indiana

3,027

27

.Oregon

3,026

28

.Pennsylvania

2,989

29

.North Dakota

2,810

30

.Kentucky

2,563

31

.Virginia

2,557

32

.Oklahoma

2,402

33

.Wyoming

2,303

34

.Ohio

2,271

35

.Iowa

2,255

36

.Utah

2,221

37

.North Carolina

2,129

38

.Kansas

2,042

39

.Mississippi

2,006

40

.Florida

1,996

41

.Idaho

1,880

42

.Minnesota

1,711

43

.Nevada

1,621

44

.Arkansas

1,593

45

.Alabama

1,526

46

.Arizona

1,503

47

.Nebraska

1,242

48

.Georgia

1,194

49

.Texas

1,003

50

.Tennessee

674

TABLE 3: STATE DEBT AS A PERCENT OF PERSONAL INCOME, 2007

STATE

% OF PERSONAL

INCOME

.Alabama

4.71

.Alaska

24.01

.Arizona

4.58

.Arkansas

5.28

.California

7.55

.Colorado

7.47

.Connecticut

12.38

.Delaware

15.13

.Florida

5.20

.Georgia

3.56

.Hawaii

11.89

.Idaho

5.92

.Illinois

10.37

.Indiana

9.12

.Iowa

6.47

.Kansas

5.60

.Kentucky

8.31

.Louisiana

9.28

.Maine

11.91

.Maryland

7.26

.Massachusetts

21.43

.Michigan

9.73

.Minnesota

4.16

.Mississippi

7.04

.Missouri

9.37

.Montana

14.65

.Nebraska

3.42

.Nevada

4.07

.New Hampshire

14.10

.New Jersey

12.01

.New Mexico

12.15

.New York

12.22

.North Carolina

6.31

.North Dakota

7.79

.Ohio

6.59

.Oklahoma

6.86

.Oregon

8.61

.Pennsylvania

7.71

.Rhode Island

20.04

.South Carolina

10.95

.South Dakota

11.38

.Tennessee

2.02

.Texas

2.70

.Utah

7.45

.Vermont

13.12

.Virginia

6.14

.Washington

7.93

.West Virginia

10.60

.Wisconsin

10.57

.Wyoming

4.90

TABLE 4: STATE DEBT AS A PERCENT OF PERSONAL INCOME, 2007, RANKED

RANK

STATE

% OF PERSONAL

INCOME

1

.Alaska

24.01

2

.Massachusetts

21.43

3

.Rhode Island

20.04

4

.Delaware

15.13

5

.Montana

14.65

6

.New Hampshire

14.10

7

.Vermont

13.12

8

.Connecticut

12.38

9

.New York

12.22

10

.New Mexico

12.15

11

.New Jersey

12.01

12

.Maine

11.91

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