RSS FEEDS
Gov. Tom Corbett's FY 2011-12 budget proposal includes $63.6 billion in total operating spending—$27.3 billion in General Fund spending—a reduction of $3.3 billion from FY 2010-11. This budget restores overall spending to pre-stimulus levels and proposes no new taxes. This is the fourth in a series of fact sheets on the state budget
| Pennsylvania State & Local Government Debt | ||
| Debtor | Debt Outstanding | Per Capita |
| Total State | $44,701,159,000 | $3,595 |
| State | $10,487,159,000 | $844 |
| State Agencies & Authorities | $34,214,000,000 | $2,752 |
| Total Local | $82,601,626,456 | $6,644 |
| School Districts | $26,059,284,754 | $2,096 |
| County/Municipal/Twp/other | $56,542,341,702 | $4,548 |
| Total | $127,302,785,456 | $10,239 |
| Sources: Governor's Executive Budget (http://www.budget.state.pa.us) December 2010 data; PA Dept of Education (http://www.pde.state.pa.us) June 2009 data; U.S. Census Bureau (http://www.census.gov/govs/www/estimate.html) 2008 data/2009 projected by Commonwealth Foundation | ||
Today, Pennsylvanians owe $127 billion in state and local government debt. This equates to more than $10,000 for every person, and more than $40,000 for the average family of four in the Commonwealth—an increase of more than $12,000 since 2002.
- This total represents bonded debt, and excludes unfunded pension and healthcare liabilities for government workers, borrowing for unemployment compensation, and short-term tax anticipation notes, which add tens of billions more in obligations for Pennsylvania taxpayers.
State Debt
Since 2002, total outstanding state general obligation debt increased 54%, from $6.8B to $10.5B.
- Annual debt payments on general obligation bonds increased from $349M in FY 2002-03 to $1.1B in the FY 2011-12 budget, an increase of 203% in annual debt payments in nine years.
State Agencies & Authorities Debt
Three-fourths of Pennsylvania's state-level borrowing is done by off-budget state agencies and authorities, like the Turnpike Commission and the Commonwealth Financing Authority.
- Debt held by state agencies and authorities increased from $16.8B in 2002 to nearly $34.2B in 2009—an increase of 103%.
- Total Pennsylvania state and state agencies and authorities debt increased from $23.6B to more than $44.7B in the last eight years—representing a total state-level increase of 89%.
| Pennsylvania State, State Agencies & Authorities Debt | ||||
| Debtor | Debt Outstanding 2002 | Debt Outstanding 2010 | Increase | Change |
| State | $6,805,184,000 | $10,487,159,000 | $3,681,975,000 | 54% |
| State Agencies & Authorities | $16,848,800,000 | $34,214,000,000 | $17,365,200,000 | 103% |
| Total State | $23,653,984,000 | $44,701,159,000 | $21,047,175,000 | 89% |
| Sources: Governor's Executive Budget (http://www.budget.state.pa.us), December 2010 data | ||||
School District Debt
Pennsylvania taxpayers are also experiencing an increase in debt at the school district level.
- According to the Pennsylvania Department of Education, school district debt increased from $19.3B in 2002 to $26.1B in 2009—an increase of 35%.
County, Municipal, Township, & Special District Debt
Other local government debt represents more than 40% of all taxpayer debt in the Commonwealth.
- According to the U.S. Census Bureau's most recent data (2008) and Commonwealth Foundation projections, county, municipal, township, and special district debt increased from $44.9B in 2002 to $56.5B in 2009—an increase of 26%.
| Pennsylvania School District, County, Municipal, Township, Special District Debt | ||||
| Debtor | Debt Outstanding 2002 | Debt Outstanding 2009 | Increase | Change |
| School Districts | $19,351,014,152 | $26,059,284,754 | $6,708,270,602 | 35% |
| County/Municipal/Twp/other | $44,943,251,000 | $56,542,341,702 | $11,599,090,702 | 26% |
| Total Local | $64,294,265,152 | $82,601,626,456 | $18,307,361,303 | 28% |
| Sources: PA Dept of Education (http://www.pde.state.pa.us/k12_finances/cwp/view.asp?a=3&q=89351) June 2009 data; U.S. Census Bureau (http://www.census.gov/govs/www/estimate.html) 2008 data/2009 projected by Commonwealth Foundation | ||||
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For more on Government Borrowing and Debt, visit www.CommonwealthFoundation.org
The Commonwealth Foundation (www.CommonwealthFoundation.org) is an independent, non-profit research and educational institute.
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