Connecticut : State Data and Comparisons : Data-Z

Connecticut

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Connecticut owes more than it owns.

Connecticut has a -$44,500 Taxpayer Burden.™

Connecticut is a Sinkhole State without enough assets to cover its debt.

Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.

Connecticut only has $21.2 billion of assets available to pay bills totaling $83 billion.

Because Connecticut doesn't have enough money to pay its bills, it has a -$61.8 billion financial hole. To fill it, each Connecticut taxpayer would have to send -$44,500 to the state.

Connecticut's reported net position is overstated by $5.1 billion, largely because the state delays recognizing losses incurred when the net pension liability increases.

The state's financial report was released 270 days after its fiscal year end, which is considered untimely according to the 180 day standard.