Wednesday, April 5, 2017

State debt per capita

Michigan is circled in green. It could have been worse.

Massachusetts has three times as much state debt, per-person, than Michigan.  Michigan has three times as much debt per-person as Tennessee or Nebraska.

Public debt puts states in a position of moral hazard.  They are tempted to slaughter the goose that lays golden eggs in an attempt to harvest more of them, faster.  Disproportionately high taxes and fee-generating regulations drive out private businesses and mobile professionals.  That never ends well.

1 comment:

  1. Louisiana is a bit worse, at 4.1K per resident. And, we have a tax-and-spend governor. He is a Democrat, of course, who thinks that he'll never run out of other people's money. I blame his very existence on the Louisiana Republican Party, who ran a thoroughly despicable candidate against him. This guy was so bad, I couldn't even hold my nose and vote for him.