Debt per capita/GDP per capita ratio threatens many US States, if the Greek Domino falls

Posted on February 26, 2012 by Subliminal Watch
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The office of Senator Jeff Sessions, ranking member on the Senate Budget Committee, sends along this chart, showing that ‘America’s Per Capita Government Debt Worse Than Greece,’ as well as Ireland, Italy, France, Portugal, and Spain:

But, each country can repay its debt more easily based on its gross domestic product per capita. So we do the math using the IMF data for 2011. We rearrange the countries by ability to not pay or the debt-per-capita / GDP per capita ratio.

With the USA at number 5, do you feel good? Don’t. The USA is a “Federal State” and there are State and local debts to added to the per capita federal debt. We have the numbers for 2008 and we know they’ve become larger. Top ten US States in red.

State Debt Per Capita Rank

  1. Alaska     $14,536
  2. Mass.     $14,234
  3. N.Y.     $13,872
  4. R.I.     $10,809
  5. Conn.     $10,524
  6. Colo.     $10,222
  7. N.J.     $10,170
  8. Wash.     $9,907
  9. Ill.     $9,692
  10. Nev.     $9,606
  11. Pa.     $9,455
  12. Calif.     $9,370
  13. Del.     $9,124
  14. Ky.     $8,987
  15. Tex.     $8,968
  16. S.C.     $8,189
  17. Hawaii     $8,146
  18. Minn.     $7,993
  19. N.H.     $7,977
  20. Nebr.     $7,891
  21. Ore.     $7,828
  22. Fla.     $7,745
  23. Kans.     $7,527
  24. Mich.     $7,505
  25. Wis.     $7,502
  26. Ind.     $7,311
  27. La.     $7,224
  28. Va.     $7,051
  29. Vt.     $6,995
  30. Mo.     $6,931
  31. Ariz.     $6,777
  32. Md.     $6,724
  33. Mont.     $6,723
  34. N.M.     $6,701
  35. S.D.     $6,553
  36. Utah     $6,206
  37. Ala.     $6,013
  38. Ohio     $5,958
  39. Maine     $5,913
  40. Tenn.     $5,764
  41. N.D.     $5,714
  42. N.C.     $5,592
  43. W.Va.     $5,426
  44. Ga.     $5,258
  45. Iowa     $5,176
  46. Okla.     $4,670
  47. Miss.     $4,549
  48. Ark.     $4,532
  49. Wyo.     $4,441
  50. Idaho     $3,786

If the Greek Domino falls, which US State dominoes can remain standing? MA? NY? RI? CN? CO?


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6 Responses to Debt per capita/GDP per capita ratio threatens many US States, if the Greek Domino falls

  1. Igor says:
    February 27, 2012 at 9:08 am

    If any of the PIIGS fail, it’s a tragedy.  If we fail (and it’s looking rather likely!) then the whole world goes to hell in a handbasket.  We are headed downhill, the brakes have been removed, and the accelerator is stuck (on Stoopid?).

    The crash is going to be spectacular.  “Jane, how do you stop this crazy thing?!? – George Jetson

  2. Subliminal Watch says:
    February 27, 2012 at 10:10 am

    The classic way this is resolved is that inflation raises the nominal value of GDP until it is sufficiently above Government debt.   For the US that means high inflation.   In the other 6  EU states shown, they cannot inflate their economies by printing euros and there is no legal mechanism for bankruptcy in the EU, so the EU will divide.   The question is when, not if.   The financial media and politicians can cover for these problems temporarily.

    • Igor says:
      February 27, 2012 at 11:40 am

      Subliminal, they are covering for them even now.  While the CBO and other Gubmint organizations are starting to publish fact after fact and chart after chart that the US economy is in deep doo-doo, the Great Unwashed Masses are continually told that the economy is doing better – “…just look at the stock market!”  Idiots, tools, and fools, all.

      They will continue to play the shell game until we fly off the cliff, motor racing.  I hope you have your crash helmet secure and your body armor on tight, it’s gonna get messy WHEN it does!!

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