By Jarrett Skorup | Michigan Capitol Confidential
Michigan has among the most debt per taxpayers in the nation, ranking ninth overall, according to the annual “Financial State of the States.” That’s actually a significant improvement from last year.
The report is released by the Chicago-based group Truth in Accounting and measures the total assets and liabilities of the 50 states. The methodology of the report is unique because it includes analyzing unreported pension and retirement health care liabilities.
Michigan has a taxpayer burden of $19,300 per person, which is down from an all-time high of $25,300 per person last year which ranked the state fifth. There are 41 states which have more liabilities than assets. Nine states are in the black with more assets than liabilities.