DEBT BOOMS EVERYWHERE
DEBT BOMB #1
New Jersey had a debt of $66,923,327,000 in fiscal year 2015. The state debt per capita was $7,490. This ranked New Jersey fourth among the states in debt . The total state debt owned by the 50 states was $1.15 trillion.
This does not include unfunded pension liabilities in its debt calculations. Between fiscal years 2012 and 2014, the funded ratio of New Jersey's state-administered pension plans decreased from 65 percent to 42 percent. For fiscal year 2014 the pension system's liability totaled $196,608 million.
The amount each taxpayer would have to send to their state's treasury in order for the state to be debt-free" as of 2016. New Jersey ranked 50th, with a taxpayer burden of $67,200.
With this figure firmly planted in my head maybe I should not have had so many kids.!!!
California had a debt of $151,715,007,000 in fiscal year 2015
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