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California’s $497 billion state debt, $12,500 per resident, driven by unpaid bonds and rising spending, exceeds all other states.
California has the highest state debt in the U.S., totaling $497 billion in 2023, or about $12,500 per resident, with total government debt exceeding $1 trillion when local and school district obligations are included.
The report cites long-term liabilities like unpaid bond debt, pensions, and retiree health benefits as major contributors, with $111.8 billion in unpaid bonds—the highest in the nation.
Since 2019, per capita spending has risen 50%, adding $106.3 billion in costs.
The state’s $325 billion preliminary budget faces criticism for relying on optimistic revenue projections.
Other high-debt states include New York, Illinois, Texas, New Jersey, and Massachusetts.
Washington state ranks eighth with $97 billion in state debt, rising to $143 billion with local debt.
The report urges fiscal reforms, but California officials did not comment.
La deuda estatal de California de 497 mil millones de dólares, 12.500 dólares por residente, impulsada por bonos no pagados y el aumento del gasto, excede a todos los demás estados.