California is facing a $25.4 billion shortfall, which includes an $8.2 billion shortfall that is being carried over from the 2011 budget. This accounts for nearly 5% of all the states’ shortfalls combined.
California’s population is 37,286,899, which leaves a debt of every man, woman and child of $681.20, and that’s just to the state! Add the feds, and we’re talking $46,366.20.
Next on our list of state debtors is Colorado. At this point, Colorado is looking at a FY 2012 deficit of $988 million. According to the Census Bureau, Colorado’s population is currently 5,029,196. That makes the debt of every man, woman and child in Colorado $196.45. The total between the state and federal deficits for every Coloradoan is $45,881.45.
The next state on our deficit list is Connecticut. A state with a projected FY 2012 deficit of $3.7 Billion (yes, with a “B”). The population of Connecticut is 3.5 million. This leaves roughly a debt for every man, woman and child in Connecticut of $1,057.00; again, this does not include the federal debt. Adding that, the total is $46,742.00.
Moving on, we have our nation’s capital, Washington, D.C.. The predicted deficit there is $322 Million. D.C.’s population as of March 4, 2011 was 602,119. That means every man, woman and child in the District of Columbia owes the District $534.78.Including the national debt, residents of D.C., regardless of age, owes a total of $46,219.78.
I really don’t want to bore you with too many numbers at once, so I’ll close Part II of the multi-segment story. I’m sure more will be forthcoming soon!