Southern California’s Cities, Counties and School Districts Are Drowning in Debt

Southern California’s cities, counties and school districts are drowning in debt

California’s state and local governments have over $1 trillion in total debt, amounting to over $27,300 per Californian, according to a new Reason Foundation report. Over half, 46%, of California’s state and local government debt, or $497 billion, is at the state level. The remaining liabilities are distributed among city governments (16% of total debt), county governments (18%), and school districts (20%). As the nation’s most populous state, i…

Report: State and local governments have $6.1 trillion in debt – Reason Foundation

California, New York, Texas, Illinois, and New Jersey hold the largest long-term debt totals. Together, these five states account for $2.5 trillion, over half of the national total of $4.9 trillion in long-term liabilities. State and local long-term debt exceeds $20,000 per person in Connecticut ($30,998), Illinois ($28,291), Hawaii ($26,271), Massachusetts ($24,520), and California ($20,280).