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These US States Are On the Verge of Collapse

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These US States Are On the Verge of Collapse

These US States Are On the Verge of Collapse

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Every penny must be meticulously accounted for for a state to survive and thrive. Fiscal responsibility is not a choice; it’s a necessity. When a state treats its budget as a mere estimate, it’s a recipe for disaster, affecting everyone, especially its residents. A recent review has unveiled a shocking truth: the average American household is burdened with a debt of approximately $137,000. But the real shocker is the staggering amount of debt some US states grapple with. 

A Budget Problem

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It is true the states below have a lot of debt, but there is no denying that they still function. Still, it is clear from the data that a few of these states need to be more fiscally responsible if they are going to correct their budget issues. It would be easy if states could balance things out by printing more money, as the federal government does, but since they can’t, the best thing to do would be to curb excessive spending. Below are some states that should pay more attention to bookkeeping. 

1. Massachusetts

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According to data from 2023, this state has an estimated $11,047 debt per capita, so it comes first in the long line of states in America that treat their budget as estimates. $11,047 debt per capita means that for each individual residing in the state, there is more than $11,000 in state debt. 

2. Connecticut

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It does not come as a shock that Connecticut comes second on this list; after all, the state has one of the highest costs of living in the USA. It has a whopping $10,679 of debt per capita, a value still lower than that of Massachusetts but just as high when you really think about it. One mitigating factor that justifies the spending is evident in their constantly improving infrastructure, but eventually, experts say the state will pay for all the excesses. 

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3. Rhode Island

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This state is the smallest in the US, but despite its small population, it is burdened by a huge debt per capita—$8,191. The number of people residing in each state greatly affects its debt per capita, which means states like Rhodes, which are smaller and tightly packed, often have higher debts per capita.

4. Alaska

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This particular state is known as a financial outlier for different reasons. Not only is it sparsely populated, but the state also does not tax those who live in it on income, which creates a natural disparity. According to data from 2023, it ranks high on the list with $8,079 of debt per capita and the third-least overall debt in the country with $76.74 billion. 

5. New York

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USA’s concrete jungle, where many dreams come true, is unsurprisingly one of the states with symptoms of fiscal irresponsibility. It has $7,141 of debt per capita, a value appropriate if you consider its population. It makes even more sense when you realize the Empire State is not easy to live in, requiring residents to earn an above-average household income just to live a life of comfort.

6. New Jersey

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The state may not look like it belongs on the list, but it boasts $7,117 of debt per capita. A resident reading this will most likely be shocked, wondering where all the money it gets from the high taxes it charges residents go. With such revenue entering the government’s coffers, one would think that the state would have some of the best infrastructure; however, the reverse is the case, at least for now. 

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7. Hawaii

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Those who reside in Hawaii don’t mind that the state has incurred a considerable $6,737 debt per capita. How could they? The great weather and preserved stunning beaches are enough to justify the state’s financial promiscuity. 

8. New Hampshire

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Some believe that smaller states on the country’s eastern seaboard are less conscious about their spending than their southern and midwestern counterparts, and they may be on to something. Case in point: New Hampshire. It barely taxes its residents enough and now has $5,517 of debt per capita. 

9. Vermont

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This state has almost the same debt per capita as its neighbor, New Hampshire, with the only difference being a meager $104. Is there a conspiracy here, or is this just a bug coincidence?

10. Illinois

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With a debt per capita of $4,995, Illinois creeps into the top ten, with nine other states charged with financial promiscuity. This means that 40 other states in the country have lower debts, which the state’s government should be ashamed of.  

11. Maryland

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One of Maryland’s most famous attractions is the beaches, but interestingly, the government does not charge people who use them as it does in New Jersey. If it did, it would generate more revenue, which would, in turn, reduce its debt per capita of $4,554. 

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12. Delaware

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This small state has a tightly packed population. Data from 2023 shows Delaware has a $4,420 debt per capita. One solution to this could be reassessing its “no sales tax” policy, which explains why so many businesses and consumers love it there. 

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