State and local governments across North Carolina have accumulated nearly $85 billion in debt and unfunded liabilities. That’s equivalent to more than $9,200 for every man, woman, and child across the state – or approximately $36,800 for a family of four.
To better inform citizens about the fiscal condition of North Carolina’s state and local governments, the Civitas Institute has tallied this comprehensive collection of true debt. The total debt burden, as of June 30, 2008, comes to $85 billion.
* Please see attachments below for itemized listings of local debt and unfunded liabilities.
I’m currently a candidate for NC Senate in District 29 and use the figure of nearly one hundred billion in total debt in my speeches. Your number of 85 billion in 2009 supports that and so does the Sunshine Review estimate of 97.7 billion last year. People are frequently astonished when they hear those numbers and want to know how much it has gone up since the 2010 election and how much it has increased between the census of 2001 and 2011. I would appreciate your providing these data if you have them. Our state budget documents seem to artfully conceal the total impact of our debt. I plan if elected to push for annual publication of unfunded liabilities and total indebtedness to increase transparency and urgency in reducing spending and requiring voter approval of new debt instead of sliding it in with SO bonds.
In light of the Detroit mess, we here in High Point and the rest of the state would love to see an update on the Drowning in Debt status of our cities.
Thganks