Forbes has ranked Texas as having one of the lowest debt burdens in the country compared to the other 49 states. Texas ranked fourth overall behind Utah, New Hampshire and Nebraska, and was the best among the large states.
“This Forbes ranking is further proof why the Lone Star State is the best place to live, work and raise a family, and other states could learn from Texas’ economic success,” Gov. Perry said. “Thanks to our low taxes, reasonable and predictable regulations, skilled workforce, and disciplined spending, we have created a strong economic environment without racking up millions of dollars of burdensome debt.”
The ranking is based on several factors, including unfunded pension liabilities, changes in tax revenue, debt as a percentage of GDP, debt per capita, growth expectations for employment and the state economy, net migrations and a moocher ratio that compares government employees, pension burdens and Medicaid enrollees to private-sector employment.
