America’s 50 state governments will need an extra $811 billion to pay off their current debt, according to the annual “State of the States” report from Truth in Accounting.
Key facts: State governments had $2.9 billion in debt and only $2.1 trillion in assets at the end of fiscal year 2023, Truth in Accounting, a nonpartisan organization that promotes fiscal transparency and accountability, found. The gap will need to be covered by taxpayers sometime in the future.
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