Debt by State

Map

Table

Introduction

State government debt in the United States is a complex and varied issue, with different states having vastly different levels of debt. Generally speaking, states that are heavily dependent on oil revenues or those with weaker economies typically have higher levels of debt when compared to those which are more diversified or economically strong. In certain cases, a state may even default on its debt due to an inability to pay its creditors. In 2018, for example, Illinois had the highest level of state government debt at $127 billion and Connecticut was second with $77 billion – both significantly higher than other states. By contrast, Alaska and Wyoming had the lowest levels of state government debt at just under $5 billion each. This can be attributed to their relatively diverse sources of income such as energy revenues, mineral royalties and taxes.

#StateState Net PositionState Total AssetsState Total Liabilities
1New York$-203,773,152,000$106,607,805,000$291,896,298,000
2New Jersey$-198,672,069,355$50,320,930,715$222,270,326,641
3Illinois$-187,691,800,000$53,052,938,000$248,672,866,000
4Massachusetts$-68,430,874,000$34,214,302,000$104,534,280,000
5California$-55,962,853,000$301,100,203,000$362,873,113,000
6Connecticut$-53,471,635,000$25,535,755,000$85,531,822,000
7Kentucky$-14,222,335,000$33,036,740,000$40,107,220,000
8Maryland$-10,244,222,000$48,413,470,000$59,977,544,000
9Delaware$-5,912,725,000$7,418,960,000$12,921,284,000
10Pennsylvania$-5,687,088,000$73,842,068,000$76,238,040,000
11Hawaii$-2,224,096,000$22,734,769,000$26,918,251,000
12Rhode Island$-265,455,000$7,664,251,000$8,589,858,000
13Vermont$-60,688,713$5,438,291,083$5,734,095,422
14Maine$1,111,185,000$8,134,714,000$7,210,707,000
15New Hampshire$1,878,213,000$7,681,625,000$5,263,485,000
16Louisiana$3,768,103,000$32,717,186,000$29,755,278,000
17Nevada$6,708,668,000$15,048,062,000$8,581,944,000
18South Dakota$6,997,057,000$8,071,131,000$1,222,742,000
19Colorado$7,913,886,000$24,238,207,000$15,747,467,000
20West Virginia$9,248,392,000$20,514,399,000$11,635,726,000
21Montana$9,678,495,000$12,894,195,000$3,782,853,000
22Kansas$11,425,652,000$20,289,499,000$9,054,006,000
23Arkansas$11,599,615,000$19,444,079,000$7,912,970,000
24Idaho$11,631,237,000$13,826,064,000$2,260,223,000
25Nebraska$14,684,671,000$17,085,675,000$2,585,190,000
26Mississippi$14,710,654,000$26,031,447,000$11,490,961,000
27Indiana$15,513,175,000$31,572,747,000$17,293,229,000
28Michigan$16,183,004,000$47,723,853,000$32,157,036,000
29Iowa$18,829,807,000$27,096,135,000$8,520,864,000
30Georgia$18,976,244,000$42,621,672,000$24,110,290,000
31Wyoming$20,041,852,654$26,846,267,871$6,724,771,586
32Oregon$21,076,286,000$40,328,984,000$20,398,329,000
33Minnesota$21,135,323,000$44,800,920,000$20,646,460,000
34South Carolina$21,414,804,000$35,198,848,000$14,337,456,000
35Alabama$21,453,073,000$35,444,976,000$13,658,768,000
36Oklahoma$22,177,668,000$27,322,897,000$5,336,352,000
37North Dakota$24,736,292,000$32,302,393,000$7,875,818,000
38Wisconsin$26,710,391,000$49,339,502,000$24,049,236,000
39Washington$26,712,263,000$104,996,002,000$76,234,109,000
40Virginia$27,214,884,000$55,135,706,000$24,191,748,000
41Utah$27,587,701,000$34,082,136,000$6,883,587,000
42Missouri$28,121,419,000$43,699,747,000$17,013,919,000
43Ohio$30,113,927,000$82,142,514,000$56,155,745,000
44Arizona$30,337,003,000$51,984,419,000$21,604,577,000
45New Mexico$31,440,739,000$45,497,487,000$15,181,921,000
46Tennessee$39,299,992,000$46,536,529,000$8,036,053,000
47North Carolina$54,411,094,000$78,669,242,000$23,619,593,000
48Alaska$76,743,558,000$89,168,499,000$12,653,950,000
49Florida$97,596,916,000$163,237,237,000$66,784,385,000
50Texas$115,080,430,000$356,019,928,000$222,642,718,000

State Net Position by State

Alabama

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State Net Position

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$21,453,073,000

Ranked in the US

#35

State Total Assets

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$35,444,976,000

Ranked in the US

#23

State Total Liabilities

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$13,658,768,000

Ranked in the US

#29

State Net Position

State Total Assets

State Total Liabilities

Alaska

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State Net Position

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$76,743,558,000

Ranked in the US

#48

State Total Assets

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$89,168,499,000

Ranked in the US

#6

State Total Liabilities

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$12,653,950,000

Ranked in the US

#31

State Net Position

State Total Assets

State Total Liabilities

Arizona

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State Net Position

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$30,337,003,000

Ranked in the US

#44

State Total Assets

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$51,984,419,000

Ranked in the US

#12

State Total Liabilities

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$21,604,577,000

Ranked in the US

#21

State Net Position

State Total Assets

State Total Liabilities

Arkansas

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State Net Position

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$11,599,615,000

Ranked in the US

#23

State Total Assets

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$19,444,079,000

Ranked in the US

#40

State Total Liabilities

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$7,912,970,000

Ranked in the US

#39

State Net Position

State Total Assets

State Total Liabilities

California

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State Net Position

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$-55,962,853,000

Ranked in the US

#5

State Total Assets

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$301,100,203,000

Ranked in the US

#2

State Total Liabilities

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$362,873,113,000

Ranked in the US

#1

State Net Position

State Total Assets

State Total Liabilities

Colorado

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State Net Position

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$7,913,886,000

Ranked in the US

#19

State Total Assets

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$24,238,207,000

Ranked in the US

#36

State Total Liabilities

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$15,747,467,000

Ranked in the US

#26

State Net Position

State Total Assets

State Total Liabilities

Connecticut

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State Net Position

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$-53,471,635,000

Ranked in the US

#6

State Total Assets

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$25,535,755,000

Ranked in the US

#35

State Total Liabilities

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$85,531,822,000

Ranked in the US

#7

State Net Position

State Total Assets

State Total Liabilities

Delaware

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State Net Position

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$-5,912,725,000

Ranked in the US

#9

State Total Assets

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$7,418,960,000

Ranked in the US

#49

State Total Liabilities

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$12,921,284,000

Ranked in the US

#30

State Net Position

State Total Assets

State Total Liabilities

Florida

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State Net Position

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$97,596,916,000

Ranked in the US

#49

State Total Assets

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$163,237,237,000

Ranked in the US

#3

State Total Liabilities

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$66,784,385,000

Ranked in the US

#10

State Net Position

State Total Assets

State Total Liabilities

Georgia

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State Net Position

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$18,976,244,000

Ranked in the US

#30

State Total Assets

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$42,621,672,000

Ranked in the US

#21

State Total Liabilities

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$24,110,290,000

Ranked in the US

#18

State Net Position

State Total Assets

State Total Liabilities

Hawaii

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State Net Position

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$-2,224,096,000

Ranked in the US

#11

State Total Assets

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$22,734,769,000

Ranked in the US

#37

State Total Liabilities

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$26,918,251,000

Ranked in the US

#16

State Net Position

State Total Assets

State Total Liabilities

Idaho

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State Net Position

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$11,631,237,000

Ranked in the US

#24

State Total Assets

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$13,826,064,000

Ranked in the US

#43

State Total Liabilities

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$2,260,223,000

Ranked in the US

#49

State Net Position

State Total Assets

State Total Liabilities

Illinois

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State Net Position

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$-187,691,800,000

Ranked in the US

#3

State Total Assets

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$53,052,938,000

Ranked in the US

#11

State Total Liabilities

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$248,672,866,000

Ranked in the US

#3

State Net Position

State Total Assets

State Total Liabilities

Indiana

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State Net Position

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$15,513,175,000

Ranked in the US

#27

State Total Assets

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$31,572,747,000

Ranked in the US

#30

State Total Liabilities

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$17,293,229,000

Ranked in the US

#24

State Net Position

State Total Assets

State Total Liabilities

Iowa

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State Net Position

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$18,829,807,000

Ranked in the US

#29

State Total Assets

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$27,096,135,000

Ranked in the US

#32

State Total Liabilities

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$8,520,864,000

Ranked in the US

#37

State Net Position

State Total Assets

State Total Liabilities

Kansas

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State Net Position

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$11,425,652,000

Ranked in the US

#22

State Total Assets

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$20,289,499,000

Ranked in the US

#39

State Total Liabilities

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$9,054,006,000

Ranked in the US

#34

State Net Position

State Total Assets

State Total Liabilities

Kentucky

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State Net Position

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$-14,222,335,000

Ranked in the US

#7

State Total Assets

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$33,036,740,000

Ranked in the US

#27

State Total Liabilities

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$40,107,220,000

Ranked in the US

#13

State Net Position

State Total Assets

State Total Liabilities

Louisiana

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State Net Position

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$3,768,103,000

Ranked in the US

#16

State Total Assets

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$32,717,186,000

Ranked in the US

#28

State Total Liabilities

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$29,755,278,000

Ranked in the US

#15

State Net Position

State Total Assets

State Total Liabilities

Maine

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State Net Position

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$1,111,185,000

Ranked in the US

#14

State Total Assets

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$8,134,714,000

Ranked in the US

#45

State Total Liabilities

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$7,210,707,000

Ranked in the US

#41

State Net Position

State Total Assets

State Total Liabilities

Maryland

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State Net Position

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$-10,244,222,000

Ranked in the US

#8

State Total Assets

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$48,413,470,000

Ranked in the US

#15

State Total Liabilities

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$59,977,544,000

Ranked in the US

#11

State Net Position

State Total Assets

State Total Liabilities

Massachusetts

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State Net Position

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$-68,430,874,000

Ranked in the US

#4

State Total Assets

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$34,214,302,000

Ranked in the US

#25

State Total Liabilities

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$104,534,280,000

Ranked in the US

#6

State Net Position

State Total Assets

State Total Liabilities

Michigan

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State Net Position

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$16,183,004,000

Ranked in the US

#28

State Total Assets

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$47,723,853,000

Ranked in the US

#16

State Total Liabilities

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$32,157,036,000

Ranked in the US

#14

State Net Position

State Total Assets

State Total Liabilities

Minnesota

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State Net Position

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$21,135,323,000

Ranked in the US

#33

State Total Assets

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$44,800,920,000

Ranked in the US

#19

State Total Liabilities

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$20,646,460,000

Ranked in the US

#22

State Net Position

State Total Assets

State Total Liabilities

Mississippi

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State Net Position

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$14,710,654,000

Ranked in the US

#26

State Total Assets

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$26,031,447,000

Ranked in the US

#34

State Total Liabilities

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$11,490,961,000

Ranked in the US

#33

State Net Position

State Total Assets

State Total Liabilities

Missouri

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State Net Position

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$28,121,419,000

Ranked in the US

#42

State Total Assets

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$43,699,747,000

Ranked in the US

#20

State Total Liabilities

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$17,013,919,000

Ranked in the US

#25

State Net Position

State Total Assets

State Total Liabilities

Montana

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State Net Position

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$9,678,495,000

Ranked in the US

#21

State Total Assets

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$12,894,195,000

Ranked in the US

#44

State Total Liabilities

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$3,782,853,000

Ranked in the US

#47

State Net Position

State Total Assets

State Total Liabilities

Nebraska

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State Net Position

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$14,684,671,000

Ranked in the US

#25

State Total Assets

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$17,085,675,000

Ranked in the US

#41

State Total Liabilities

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$2,585,190,000

Ranked in the US

#48

State Net Position

State Total Assets

State Total Liabilities

Nevada

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State Net Position

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$6,708,668,000

Ranked in the US

#17

State Total Assets

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$15,048,062,000

Ranked in the US

#42

State Total Liabilities

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$8,581,944,000

Ranked in the US

#36

State Net Position

State Total Assets

State Total Liabilities

New Hampshire

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State Net Position

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$1,878,213,000

Ranked in the US

#15

State Total Assets

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$7,681,625,000

Ranked in the US

#47

State Total Liabilities

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$5,263,485,000

Ranked in the US

#46

State Net Position

State Total Assets

State Total Liabilities

New Jersey

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State Net Position

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$-198,672,069,355

Ranked in the US

#2

State Total Assets

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$50,320,930,715

Ranked in the US

#13

State Total Liabilities

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$222,270,326,641

Ranked in the US

#5

State Net Position

State Total Assets

State Total Liabilities

New Mexico

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State Net Position

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$31,440,739,000

Ranked in the US

#45

State Total Assets

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$45,497,487,000

Ranked in the US

#18

State Total Liabilities

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$15,181,921,000

Ranked in the US

#27

State Net Position

State Total Assets

State Total Liabilities

New York

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State Net Position

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$-203,773,152,000

Ranked in the US

#1

State Total Assets

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$106,607,805,000

Ranked in the US

#4

State Total Liabilities

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$291,896,298,000

Ranked in the US

#2

State Net Position

State Total Assets

State Total Liabilities

North Carolina

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State Net Position

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$54,411,094,000

Ranked in the US

#47

State Total Assets

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$78,669,242,000

Ranked in the US

#8

State Total Liabilities

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$23,619,593,000

Ranked in the US

#20

State Net Position

State Total Assets

State Total Liabilities

North Dakota

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State Net Position

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$24,736,292,000

Ranked in the US

#37

State Total Assets

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$32,302,393,000

Ranked in the US

#29

State Total Liabilities

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$7,875,818,000

Ranked in the US

#40

State Net Position

State Total Assets

State Total Liabilities

Ohio

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State Net Position

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$30,113,927,000

Ranked in the US

#43

State Total Assets

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$82,142,514,000

Ranked in the US

#7

State Total Liabilities

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$56,155,745,000

Ranked in the US

#12

State Net Position

State Total Assets

State Total Liabilities

Oklahoma

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State Net Position

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$22,177,668,000

Ranked in the US

#36

State Total Assets

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$27,322,897,000

Ranked in the US

#31

State Total Liabilities

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$5,336,352,000

Ranked in the US

#45

State Net Position

State Total Assets

State Total Liabilities

Oregon

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State Net Position

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$21,076,286,000

Ranked in the US

#32

State Total Assets

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$40,328,984,000

Ranked in the US

#22

State Total Liabilities

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$20,398,329,000

Ranked in the US

#23

State Net Position

State Total Assets

State Total Liabilities

Pennsylvania

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State Net Position

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$-5,687,088,000

Ranked in the US

#10

State Total Assets

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$73,842,068,000

Ranked in the US

#9

State Total Liabilities

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$76,238,040,000

Ranked in the US

#8

State Net Position

State Total Assets

State Total Liabilities

Rhode Island

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State Net Position

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$-265,455,000

Ranked in the US

#12

State Total Assets

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$7,664,251,000

Ranked in the US

#48

State Total Liabilities

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$8,589,858,000

Ranked in the US

#35

State Net Position

State Total Assets

State Total Liabilities

South Carolina

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State Net Position

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$21,414,804,000

Ranked in the US

#34

State Total Assets

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$35,198,848,000

Ranked in the US

#24

State Total Liabilities

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$14,337,456,000

Ranked in the US

#28

State Net Position

State Total Assets

State Total Liabilities

South Dakota

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State Net Position

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$6,997,057,000

Ranked in the US

#18

State Total Assets

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$8,071,131,000

Ranked in the US

#46

State Total Liabilities

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$1,222,742,000

Ranked in the US

#50

State Net Position

State Total Assets

State Total Liabilities

Tennessee

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State Net Position

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$39,299,992,000

Ranked in the US

#46

State Total Assets

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$46,536,529,000

Ranked in the US

#17

State Total Liabilities

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$8,036,053,000

Ranked in the US

#38

State Net Position

State Total Assets

State Total Liabilities

Texas

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State Net Position

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$115,080,430,000

Ranked in the US

#50

State Total Assets

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$356,019,928,000

Ranked in the US

#1

State Total Liabilities

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$222,642,718,000

Ranked in the US

#4

State Net Position

State Total Assets

State Total Liabilities

Utah

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State Net Position

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$27,587,701,000

Ranked in the US

#41

State Total Assets

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$34,082,136,000

Ranked in the US

#26

State Total Liabilities

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$6,883,587,000

Ranked in the US

#42

State Net Position

State Total Assets

State Total Liabilities

Vermont

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State Net Position

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$-60,688,713

Ranked in the US

#13

State Total Assets

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$5,438,291,083

Ranked in the US

#50

State Total Liabilities

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$5,734,095,422

Ranked in the US

#44

State Net Position

State Total Assets

State Total Liabilities

Virginia

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State Net Position

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$27,214,884,000

Ranked in the US

#40

State Total Assets

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$55,135,706,000

Ranked in the US

#10

State Total Liabilities

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$24,191,748,000

Ranked in the US

#17

State Net Position

State Total Assets

State Total Liabilities

Washington

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State Net Position

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$26,712,263,000

Ranked in the US

#39

State Total Assets

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$104,996,002,000

Ranked in the US

#5

State Total Liabilities

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$76,234,109,000

Ranked in the US

#9

State Net Position

State Total Assets

State Total Liabilities

West Virginia

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State Net Position

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$9,248,392,000

Ranked in the US

#20

State Total Assets

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$20,514,399,000

Ranked in the US

#38

State Total Liabilities

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$11,635,726,000

Ranked in the US

#32

State Net Position

State Total Assets

State Total Liabilities

Wisconsin

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State Net Position

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$26,710,391,000

Ranked in the US

#38

State Total Assets

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$49,339,502,000

Ranked in the US

#14

State Total Liabilities

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$24,049,236,000

Ranked in the US

#19

State Net Position

State Total Assets

State Total Liabilities

Wyoming

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$20,041,852,654

Ranked in the US

#31

State Total Assets

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$26,846,267,871

Ranked in the US

#33

State Total Liabilities

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$6,724,771,586

Ranked in the US

#43

State Net Position

State Total Assets

State Total Liabilities