Staff Reports
Forbes Advisor has unveiled the latest data showcasing the financial burdens placed on the shoulders of hardworking Americans across the nation. There are a few states that need to tighten their belts.
These states are where Americans have the most, least debthttps://t.co/QHolUVP2BF
— The Center Square (@thecentersquare) December 24, 2023
Hawaii takes the top spot for the most indebted state, with an eye-popping government debt of $13,681.67 per person, making up nearly 20% of the state’s GDP. Meanwhile, California and Colorado aren’t far behind, with their residents drowning under credit card and car loan debt.
In the heart of the Rockies, Colorado boasts the highest household debt per capita, coming in at a staggering $90,000 – that’s about the same as the average annual earnings for folks in the state.
On the flip side, Oklahoma is leading the pack as the least indebted state, showing that small government and fiscal responsibility really do pay off. Iowa and New Hampshire are close behind, proving that conservative principles lead to financial freedom.
Idaho, with its low per capita government debt and modest share of state GDP, is setting an example for the nation. It’s clear that responsible governance and conservative values are the key to financial prosperity.
These numbers don’t even include the monstrous federal debt burden, which recently topped a mind-blowing $100,000 per American. Time for our leaders to rein in the excessive spending and start living within our means.
