◼ State governments are piling up debt almost as fast as the federal government, with a total of $5.1 trillion now on their books. - Mark Tapscott/Washington Examiner
Calculated on a per capita basis, the $5.1 trillion represents an obligation of $16,178 for every state resident in the country, according to State Budget Solutions' fourth annual State Debt Report....
Viewed in terms of total debt, big states dominate the top 10, with California being in the worst shape at $778 billion. Most of the Golden State's total is accounted for by public pension liabilities at $584 billion.
Given the prominence of unfunded public employee pension liabilities in state debt, the role of unions representing government workers is an important factor.
