“Debt makes the world go round.” That's how the saying goes, right? Here are the ten states that are in financial trouble.Â
1. Illinois
Illinois has no good economic condition, with a debt of $4,995 per capita. One of the significant issues in the state is its unfunded pension liabilities. They have accumulated over time, causing such economic conditions: budget issues and high govt. Spending has also increased the state's burden. Now the responsibility falls on the govt. To cover the debt to avoid future inconveniences.Â
2. Vermont
Another state that has accumulated a high debt is Vermont. It has a debt per capita of $5,413. It's a small and one of the least populous states in the U.S. Vermont is best known for its most natural landscapes. It makes Vermont a famous tourist spot. It's shocking for Vermont to accumulate even a tiny bit of debt with such tourist activity.Â
3. New Hampshire
New Hampshire is another smallest state in the U.S., also the neighbor of Vermont. With its snow-capped mountains, New Hampshire lures many travelers but still owes a debt of $5,517 per capita. Being the neighbor of Vermont, its debt amount and economic situation are much similar.Â
4. Hawaii
Hawaii can make any tourist struck with its beauty and natural landscapes. This is one of the most renowned tourist spots around the world. But Hawaii still owes a debt of $ 6,737 per capita. Even the striking beauty of Hawaii has the power to make Hawaiians forget their state owes a debt.
5. New Jersey
One of the highest-taxed states of the U.S., New Jersey, also owes a huge debt. The state owes a debt per capita of $7,117. It becomes eye-opening that the state takes high taxes from the public but still owes a high debt. As a matter of fact, New Jersey cannot be seen making any state upgrading programs.
6. New York
The state owes a debt of $7,141 per capita. NYC is one of the biggest and most famous tourist destinations. It's also a place where most of the world's richest people live. And any people long to live and enjoy their life in New York. But the state's high debt makes it quite pricy to maintain a good life there.
7. Alaska
Alaska is one of the biggest U.S. states that is the least populated. It boasts a debt of $8,079 debt per capita. Although the state is in high debt, it still cares for its residents. The tax amount in Alaska is comparatively very small from other states. It also creates some tough situations for the state regarding the debt amount.
8. Rhode Island
This is one of the smallest U.S. states, boasting a $8,191 per capita debt. It a quite a significant amount concerning the size of the state. Rhode Island is a small state, but it is densely populated. This is a min cause that makes it accumulate a high debt.
9. Connecticut
With a debt of $10,679 per capita, Connecticut is the relatively highest indebted state in the U.S. Such an amount of debt makes it pretty expensive to live in this state. Therefore, much of the pressure goes onto the high-income earners. The state is also reinvesting in its infrastructure consistently, which is making its debt amount the highest.
10. Massachusetts
The topmost indebted state of the U.S. is Massachusetts. Overall indebted per capita of $11,047, the state has made every resident indebted over $11,000. High Government spending on different developmental sectors of the state has caused an increased debt accumulation. It has such a high debt in comparison to other big states of the U.S. with high economic disparity.
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