Written By: Chris Edwards
Published In: Budget & Tax News
Publication Date: September 12, 2006
Publisher: The Heartland Institute
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It is well known that the federal government is amassing large amounts of debt, but state and local governments are piling up debt as well.
Total state and local debt was stable during the 1990s but soared from $1.19 trillion in 2000 to $1.85 trillion by 2005, an increase of 55 percent. About 39 percent of the total is state debt, and 61 percent is local debt... READ MORE