By Jarrett Skorup | Michigan Capitol Confidential
Much has been said recently about student college debt, now averaging nearly $30,000 per pupil nationally. But that’s not the only debt being carried around.
Total debt to taxpayers has also been skyrocketing in recent years.
The liabilities of state governments, largely driven by underfunded pension and retiree health care costs, have been accumulating rapidly. According to the State Data Lab produced by the Chicago-based Truth in Accounting, Michigan has the fifth highest amount of debt per person when considering student loans and taxpayer burden.
at Michigan Capitol Confidential.