Put the Credit Cards Away
Keep this in mind when you’re in the voting booth, today, especially while considering bond issues:
As of June 30, Rhode Island had a net tax-supported debt of $1.7 billion, up 5.8 percent from a year ago.
That means the debt for every man, woman and child in Rhode Island is $1,766. That far exceeds the median level in the United States of $889.
Also, Rhode Island’s debt level equals 4.7 percent of personal income, compared with the U.S. median of 2.6 percent.
That gives Rhode Island a rank of ninth highest in the country in debt per capita and 13th highest in debt related to personal income.
We have to stop the bleeding.