MCHS – As stated in a recent analysis on debt trends published by the Reason Foundation, the total debt liabilities per capita in the state of Wisconsin increased from $4,844 in the year 2020 to $4,781 in the year 2022.
Connecticut ($27,031), New Jersey ($24,200), Hawaii ($19,400), Illinois ($19,400), and Wyoming ($18,600) are all higher than this amount. This is a significant amount lower from the top of the list. As stated in the research, Wisconsin was one of the twenty-four states that had a reduction in its debt per capita between the years 2020 and 2022.
“At the end of the 2022 fiscal year, the 50 state governments held $1.03 trillion in employee-related debt, including $502 billion in net public pension liabilities and $524 billion in net other post-employment benefit liabilities, such as promised medical benefits for retirees,” the report said.
In addition, the state of Wisconsin had an increase in its assets per capita, which went from $9,634 in 2020 to $11,162 in 2022.
Additionally, the state has a negative pension liabilities per capita, which comes in at a negative $389.
Additionally, Milwaukee experienced a favorable change in total liabilities throughout that time period, with the city’s debt per capita decreasing from $8,023 in the year 2020 to $6,751 in the year 2022. From $4,156 in 2020 to $4,334 in 2022, Madison’s debt per capita increased from $4,156 to $4,334 in 2022.
For the years covered by the report, the median household income in Madison was $67,270, while the typical income in Milwaukee was $46,637.
