So recently, a group of CPA's got together and calculated each state's debt-per-citizen ratio. The total outstanding debt for each state, divided by the number of people living in that state.
New 2010 State of the States Report Comeback America Initiative
Six states currently have surpluses...Alaska, WY, ND, UT, NB, SD. Those are some conservative states.
The 10 states with the highest debt per citizen? RI, WV, MI, CA, MA, KY, IL, HI, NJ, CT. That bottom 10 is prety blue.
Of coursem, CT was the worst, with debt of $49,000 per person, $196,000 for a family of 4. And it's even more insane when you look at 2 things...CT has among the highest state tax rates in the nation, applied to the highest incomes in the nation (plus hundreds of millions from the casinos), so NO ONE can argue that the state has a shortage of tax dollars. Second, note that CT's debt is 35% higher than the second-worst state. That is not an exaggeration. If we eliminated 30% of our debt, we'd still have the highest debt in the nation. Unbelievable.
And what do we have to show for it? Are our cities thriving? Have we eliminated poverty and crime? Are people flocking to CT to raise families? Are the roads all paved with gold? Is our cost of living low?
And in November, the Democrats will get 98% of the vote.
Unless you are in a public labor union, why do people feel liberal econnomics is superior to conservative economics?
Can one of the liberals here tell me what I'm missing?