The more we mess around, the more we find out.
I got to messing around in a debate about all the people moving from northern states like New York, Illinois, and Connecticut to soutern states like Florida and Tennessee.
It only took a few minutes to pull of some data showing the facts.
The state debt per capita shows the northeast is most in debt per citizen.
World Population Review says these are the 10 states with the highest debt per capita:
- Massachusetts - $10,738
- Connecticut - $10,719
- Rhode Island - $8,041
- Alaska - $7,999
- New Jersey - $6,980
- New York - $6,809
- Hawaii - $6,508
- New Hampshire - $5,545
- Vermont - $5,403
- Illinois - $4,827
Here's a visual with a heat map on the states.
On the other hand, World Population Review tells us it's the southern states like Tennessee, Texas, Geogia, North Carolina, and Florida, along with some conservative western states like Wyoming and Nebraska that have the lowest debt per capita.
World Population Review goes on to explain, for example, the details of New York and Tennessee as the states with the highest (NY) and lowest (TN) bebt.
"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. New York has attempted to fill budget gaps by cutting school aid and health care costs in recent years."
"Tennessee has the fifth-lowest debt in the U.S., having $8.04 billion in total liabilities and $46.54 billion in total assets, resulting in a net position of $39.3 billion and a debt ratio of 17.3%. Tennessee is one of the most tax-friendly states in the country and will have no state income tax by 2021. While remaining low-debt and low-tax, Tennessee has managed to triple its Rainy Day Fund and provide tax cuts to its residents, including a 30% decrease in-state sales tax on groceries."
Some say it's the difference between the north and the south, which seems obvious by the map.
Others believe it's red (conservative/Republican) vs. blue (liberal/Democrat) state policies that drive the debt.
Interestingly, the northeast tends to be more blue, and they have the most debt.
You can draw your own conclusion, but it looks like some states like it hot, and some not.
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