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US States With the Most Debt


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US States With the Most Debt

The total debt by US States has steadily increased over the years. The debts, also referred to as unpaid borrowed funds differ from state to state. Spending data from official government sources indicate that the debts include an amount to cover budget gaps, unfunded pension commitments, and outstanding bonds. Borrowing is further done to finance education, defense, health care, and welfare expenses among other government spending allocations. However, the amount that can be borrowed is limited by the United States Debt ceiling.

In general, debts in states increases as a result of spending habits or a decrease in income from taxes and other income sources. Historically public debts as a share of the gross domestic product have increased in times of recession and wars but subsequently declined. Although debt per capita is dependent on debt levels and total population, states that are highly indebted have a comparatively higher debt per capita. States are tasked to apply macroeconomic management operations to reduce debts.

States With the Highest Debt Amount

California is the most indebted state with an outstanding debt of $152.80 billion during the 2019 fiscal year. New York comes second with an outstanding debt of $139.20 billion. Although the two states have a high Gross State Product of $3091.2 billion and $ 1738.4 billion respectively, making them the richest states, their burden of debts is enormous. The two states require huge amounts to reimburse the debts each year, a factor that has dwarfed development.

Massachusetts is ranked third with a debt of $77.0 billion followed closely by New Jersey with an outstanding debt of $65.90 billion. Illinois is ranked fifth with an outstanding debt of $61.80 billion. Texas, Pennsylvania, and Connecticut follow each other with a debt of $51.0 billion, $47.5 billion and $38.8 billion respectively. The States of Michigan, Ohio, and Washington have debts of $33.5 billion each.

However, it is worth noting that there are states with relatively very little outstanding debts. The bottom on the list is Wyoming with owing only $ 0.8 billion. Nebraska, Montana and North Dakota have a debt of $2.0 billion, $2.80 billion and $2.90 billion. The other states ranked low in terms of the debt are Nevada, Idaho, Vermont, and South Dakota. These states are also among the least populated states in the country.

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The three most liberal states have the highest debt, and are run by Democrats that never pay off bills. This is why people are fleeing these states, because those bills are now starting to come due, and taxes are being raised to pay for it. Even the poor are expected to pay, as they usually stay poor in the process. This is socialism 101.

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Speaking of debt, Trump and Republicans created the third highest debt/deficit in US History.  The only two higher were when Lincoln had to finance the Civil War and Roosevelt had to finance WW II and the Arsenal of Democracy.

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Seems the debt always get higher and higher with no consequence - guess why not add more to it.  No way it could ever be paid off.

Add to it...

According to Experian's 2019 Consumer Debt Study, total consumer debt in the U.S. is at $14.1 trillion, with Americans carrying an average personal debt of $90,460

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3 hours ago, MovieMadness said:

Obama added more debt during his eight years than all the other previous presidents combined.

Curious how you were never concerned about the debt when Trump was skyrocketing it.

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4 hours ago, MovieMadness said:

Obama added more debt during his eight years than all the other previous presidents combined.

Totally false!

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Obama Has Now Increased Debt More than All Presidents from George Washington Through George H.W. Bush Combined

The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total national debt was $14,837,099,271,196.71—up about $44.8 billion from Sept. 30.

That means that in the less-than-three-years Obama has been in office, the federal debt has increased by $4.212 trillion--more than the total national debt of about $4.1672 trillion accumulated by all 41 U.S. presidents from George Washington through George H.W. Bush combined.

This $4.212-trillion increase in the national debt means that during Obama’s term the federal government has already borrowed about an additional $35,835 for every American household--or $44,980 for every full-time private-sector worker.

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This doesn't add in the other five years Obama spent like crazy, so he easily added more debt than all the other presidents combined.

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4 hours ago, MovieMadness said:

Obama added more debt during his eight years than all the other previous presidents combined.

He inherited the second great recession from the GOP.

BTW, this thread .... you really are at war with the rest of your own country, aren't you.

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15 hours ago, MovieMadness said:

Obama Has Now Increased Debt More than All Presidents from George Washington Through George H.W. Bush Combined

The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total national debt was $14,837,099,271,196.71—up about $44.8 billion from Sept. 30.

That means that in the less-than-three-years Obama has been in office, the federal debt has increased by $4.212 trillion--more than the total national debt of about $4.1672 trillion accumulated by all 41 U.S. presidents from George Washington through George H.W. Bush combined.

This $4.212-trillion increase in the national debt means that during Obama’s term the federal government has already borrowed about an additional $35,835 for every American household--or $44,980 for every full-time private-sector worker.

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This doesn't add in the other five years Obama spent like crazy, so he easily added more debt than all the other presidents combined.

Another false, misleading unsourced post.   Trump increased the National Debt more than any other president except for FDR (WW II) and Lincoln (Civil War).  He did it by wild spending and cutting taxes.

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obama was a coward when it came to foreign policy. the arab spring happened not because of him but in spite of him. he wouldn't even back up his own red line. he just stood prostrate while the syrian regime slaughtered multitudes of their own civilian population..

one syrian woman put it succinctly "we will not forget you for forgetting us."

yes, she was talking about mister perfect divine messianic perfection barack obama.

:D

the obama kitchen with marble contertops.

Barack and Michelle Obama Buy Their Kalorama Rental for $8.1 Million -  Mansion Global

 

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