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Iowa’s
Per
Capita Debt Second Lowest in Nation
Posted 4 August 2010
Iowa has the second
lowest state debt per capita in the nation, according to a report
released today by Moody’s Investors Service. The report concludes the
median personal share of debt nationally is $936; Iowa’s state debt per
capita is $73.
Only Nebraska’s debt per person is lower than Iowa’s, at $15.
Connecticut has the highest debt per capita at $4,859.
“We are weathering the economic downturn and natural disasters of the
last few years extremely well when it comes to government debt in
Iowa,” Governor Chet Culver said. “Even after bonding for desperately
needed infrastructure investments through I-JOBS, we maintain one of
the lowest debts among states – a testament to our very careful and
cautious budgeting and spending practices in this state.”
Today’s report is further evidence of Iowa’s strength in tough economic
times. For the first time ever, the State of Iowa received a AAA bond
rating for the state’s sound fiscal management under the Culver/Judge
Administration. In addition, Iowa is tied for second place nationally
in terms of fiscal strength, according to a recent study by the Pew
Center on the States. Iowa is behind only Wyoming and tied with
Nebraska in terms of Pew’s positive rating.
It should be noted that Iowa does not borrow to balance its budget, it
only borrows for infrastructure.
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