Report: California state debt rises to $617 billion

From The Sacramento Bee:

California’s outstanding state government debt rose by about $5 billion to $617 billion during the last year, according to a new report from State Budget Solutions, a nonpartisan, DC-based research and advocacy group.

The state’s debt burden comes out to roughly $16,400 per California resident.

Most of the outstanding debt is related to unfunded pension liabilities. The report also looked at the fiscal year 2013 budget gap, unemployment trust fund loans and unfunded retiree health benefits.

California had the largest debt tally in the nation — it’s the most populous state — and higher per capita debt than the national average.

This map shows the amount of debt per resident in each state, according to State Budget Solutions.

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