States are taking on more debt and according to Moody’s Investor’s Service, the per capita state debt for New Mexico works out to $1,398 per person. Far and away, that is the highest amount for states in the Four Corners region.
Here’s the breakdown:
New Mexico $1,398
The good news? Among the 50 states, at least we don’t have the highest per capita debt. That ignominious distinction goes to Connecticut at a whopping $4,859 per person.
The bad news? We’ve got a long, long way to catch up with the state with the lowest per capita state debt. The winner is Nebraska, which has a per capita debt of just $15 per person.
The website cnnmoney.com has a great, interactive graphic breaking down the debt burden by state. Here’s the link: http://money.cnn.com/news/storysupplement/economy/state_debt/index.html
And here’s the accompanying article, which is sobering to say the least: