Illinois a ‘Sinkhole State’: Rates Second Worst for Liability Per Taxpayer

-By Warner Todd Huston

Obama’s Illinois perennially ranks at the very bottom of every statistic that marks a successful state and a new report on America’s “sinkhole states” finds that Illinois again ranks at the very bottom this time for how much state debt each citizen is saddled with.

The statistics gathered by the excellent Chicago-based budget watchdog group Truth In Accounting calculated how much state debt–obligations like pensions, healthcare plans for retirees, etc–each citizen would have to pay to retire the debt in a lump sum.

The group has dubbed the worst states as “America’s Sinkhole States.”

Truth In Accounting found that Connecticut is the worst state in the union with each citizens owing 48 thousand dollars per citizen to retire the debt. But coming in a close second is the state of Illinois with a whopping 43 thousand dollars per citizen in debt.

Rounding out the bottom five were New Jersey at $36K, Massachusetts with $28K, and Hawaii with $27K of debt per citizen.

Each of these states have been controlled by Democrats for decades.

By comparison, the best states all had a budget surplus with Alaska topping the list with a surplus of 446K per citizen. Next came North Dakota with a $22K surplus, Wyoming with $20K, Utah with $2,700, and South Dakota also with a surplus of $2,700 per citizen. In each case but Hawaii these totals are an increase in debt over last year.

“Taxpayer Burden,” the group says, “is each taxpayer’s share of their state’s debt after setting aside capital-related debt and assets. Remaining debt is primarily unpaid pension and retirement health promises.”

See the Truth In Accounting report titled, “The 2013 Financial State of the States.”

Here is the latest list of stories showing that Illinois is the worst of the worst in the country, all thanks to the Democrats, House Speaker Michael Madigan, and Democrat Gov. Pat Quinn:

About Warner Todd Huston

Warner Todd Huston is a Chicago-based freelance writer, has been writing opinion editorials and social criticism since early 2001 and is featured on many websites such as Andrew Breitbart's BigGovernment.com, BigJournalsim.com and all Breitbart News' other sites, RightWingNews.com, CanadaFreePress.com, and many, many others. Additionally, he has been a frequent guest on talk-radio programs across the country to discuss his opinion editorials and current events as well as appearing on TV networks such as CNN, Fox News, Fox Business Network, and various Chicago-based news programs. He has also written for several history magazines and appears in the book "Americans on Politics, Policy and Pop Culture" which can be purchased on amazon.com. He is also the owner and operator of PubliusForum.com. Feel free to contact him with any comments or questions : EMAIL Warner Todd Huston and follow him on Twitter, on Google Plus , and Facebook.
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