Washington State’s debt load higher than national median

Downtown Seattle, Washington and the Bainbridg...

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In Washington, which is borrowing about $1 billion a year for transportation projects including a new car tunnel beneath Seattle, debt is $2,226 per capita, eighth in the country and more than double the $936 national median, said Jim McIntire, the state treasurer.

via Seattle, Portland, Hottest Cities of 1990s, Seeing Growth Slow in Maturity – Bloomberg.

‘Level of Debt’

“It’s not Michigan; we’ve been a pretty attractive place,” McIntire said in an interview. “But in the past decade, we’re reached a level of debt that’s going to require that we exercise greater fiscal discipline.”

So far, income growth has compensated for the borrowing and helped maintain the state’s bond rating. Total income in the state rose 45 percent since 2000, 5 percent faster than the nation, McIntire said in a December report.


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