As you can imagine, piling up more than $1 trillion in national debt didn’t just happen overnight.
In a one-of-a-kind study, called “The Financial State of the States,” the Institute for Truth in Accounting hones in on the states it says are mostly to blame for dragging consumers down the bottomless bit the economy has become.
Of all 50 states, 46 are bleeding with debt, which has shifted the burden for paying for things like pensions and healthcare to the shoulders of taxpayers, the IFTA says.
The agency based its results on the amount of debt each state faces — including unfunded retirement liabilities — and how much citizens would have to fork over to cover the losses.
See the top five best and worst below:
See the full study here.