State debt including pension liabilities could surpass $4 trillion this year according to a report prepared by State Budget Solutions, a not-for-profit group that follows state fiscal matters and advocates for limited taxes and spending. The group combined states’ major debt and future liabilities, primarily for pensions and employee healthcare, unemployment insurance loans, and outstanding bonds. It found that in total, states are in debt $4.2 trillion. California has the highest debt, about $612 billion and Vermont has the lowest, about $6 billion. Read more
