Per Capita Debt comparative all 50 states ...
The information in the tables is calculated from data published by the U. S. Census Bureau (state debt outstanding at the end of the 2007 fiscal year and estimated state populations as of July 1, 2007) and the Bureau of Economic Analysis (state personal income for 2007).
State Debt Per Capita, 2007
Connecticut 6,830 - Ranked 4th. in the nation
State Debt as a Percent of Personal Income, 2007
Connecticut 12.13% - Ranked 8th. in the nation
The issue revolves around the state's current revenue problem is how have these values (per capita and percentage of personal income) changed and what impact on PILOT Funds and other revenue distributions to the cities and towns will this have. Further issues center around distributions from the Federal Government to the state which have direct impact on revenue and debt policy, bonding, grants and reimbursements. The following video frames these issues from another perspective.
The current budget process of the BOF should be sensitive to these issues. Setting priorities, plans and allocation of funds is a very difficult process. in present economic times transparency is essential in is financial process. An interesting exercise for New Fairfield would be a similar analysis ... or perhaps 'debt per home' to put into perspective the debt that must be retired from the major tax revenue source of the town.
