Which state is in debt the most?

1. New York. New York has the highest debt of any state, with total debt of over $203.77 billion.

Which states owe the most federal money?

State Federal Dependency Ranking

Rank State Fed Fund % of State Revenues
1 New Mexico 25.94%
2 West Virginia 27.18%
3 Mississippi 27.10%
4 Alaska 28.64%

Which states receive the most welfare?

Most Federally Dependent States

Rank State Total Score
1 Alaska 93.22
2 Mississippi 84.94
3 Kentucky 79.54
4 West Virginia 78.08

Is the state of California in debt?

While New York leads the country in terms of per capita government debt, at $18,411 per person, California, the most populous state, has the largest amount of total debt, at $507 billion.

Which state has highest debt to GDP ratio?

According to the latest Reserve Bank of India report on state finances, Punjab topped the states with the highest debt-to-GSDP at 49.1% in FY21, 6.6 percentage points more than a year ago.

Why is California so in debt?

In summary California has almost $20 billion of debt from the surge in unemployment claims during the pandemic, more than any other state. One reason is California’s higher unemployment rate; another is that employer taxes haven’t kept up with increasing benefits.

Which states pay the most in taxes?

States with the highest tax burdens

  • New York (12.75%)
  • Hawaii (12.70%)
  • Maine (11.42%)
  • Vermont (11.13%)
  • Minnesota (10.20%)
  • New Jersey (10.11%)
  • Connecticut (10.06%)
  • Rhode Island (9.91%)

Which state has the most generous welfare?

Berman’s key finding: Vermont ranks as the most generous state with the average low-income person receiving about $26,000 in benefits. This is due largely to the fact that, using my measure, Vermont has the most generous Medicaid program and Medicaid accounts for about half of all of the programs I consider.

Is any state debt free?

Well, the state finally managed to pay off the debt from one year’s deficit from over a decade ago, when voters approved $14 billion in borrowing to cover 2004’s shortfall. The state ultimately accumulated $5 billion in interest and fees on it. But now California is officially debt-free… from its 2004 budget deficit.

Is Texas in debt?

As of August 31, 2021 Texas had a total of $63.21 billion in state debt outstanding, including both general obligation and revenue debt. Texas’ general obligation debt is rated at Aaa/AAA/AAA/AAA by the credit rating agencies, Moody’s Investors Service, Standard & Poor’s, Fitch Ratings and Kroll.

Are blue states better than red states in 2018?

Again, as with almost all of the economic indicators, Blue states have an absolutely decisive victory over Red states in 2018 – with major wins in all 5 metrics! I should have added a “devastatingly better” title for indicators.

How many blue states are below the average?

There’s only one (.5) Blue state above the average (and it’s close to it). In sharp contrast, 55% of Blue states below the average are (.5)’s. *Note: This level of partisanship isn’t formally accounted for in my data analysis.

Which state has the highest debt?

New York has the highest debt of any state, with total debt of over $203.77 billion. New York’s total assets are around $106.61 billion, giving the state a debt ratio of 273.8%. The main culprit for New York’s towering debt is overspending on Medicaid.

Are red or blue states better off because of oil?

But to recap and add a bit: Blue states clearly do better than Red states on Economic Indicators, except for homelessness. And to bolster this point, it appears like there’s decent evidence that most Red outliers that are doing well, economically-speaking, are doing well because of oil.