(The Center Square) – Wisconsin went from $4,844 in total debt liabilities per capita in 2020 to $4,781 in 2022, according to a new report on debt trends from Reason Foundation.
That’s well below the top of the list and Connecticut ($27,031), New Jersey ($24,200), Hawaii ($19,400), Illinois ($19,400) and Wyoming ($18,600). Wisconsin was one of 24 states to see its debt per capita lower from 2020 to 2022, according to the report.
“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.
Wisconsin also saw its assets per capita rise to $11,162 in 2022 after it was $9,634 in 2020.
The state also has a negative pension liability per capita at negative $389.
Milwaukee also saw positive change in total liabilities over that timeframe, going from $8,023 per capita in debt in 2020 to $6,751 in 2022. Madison saw its debt per capita rise from $4,156 in 2020 to $4,334 in 2022.
Madison’s median household income was $67,270 while Milwaukee’s was $46,637 for the report years.
