Nebraska state debt, 2004-2017

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State debt refers to any debt owned by a state government. Debt may include any financial obligations a state has that have not been paid, such as bonds issued by state governments, money borrowed by a state government that has not been repaid, or post-retirement benefits promised to state employees. According to the U.S. Census Bureau, Nebraska had a debt of $1,809,126,000 in fiscal year 2015. The state debt per capita was $955. This ranked Nebraska 49th among the states in debt and 49th in per capita debt. The total state debt owned by the 50 states was $1.15 trillion with a per capita debt of $3,582.

It is important to note that the below figures reflect various sources with different methodologies. The U.S. Census Bureau figures do not include any debt owed by local governments in the states, debt owed by the federal government, promised pension payments that have yet to be funded, or unemployment trust fund loans. Information on debt per capita was not directly available from the U.S. Census Bureau, and was calculated using the census figures for state debt and population. State debt figures from the State Budget Solutions report below were calculated using data from the states' 2012 comprehensive annual financial reports. To access the complete SBS report, including methodology details, click here.

State debt

The tables below detail the debt figures in Nebraska compared to those of neighboring states.

U.S. Census Bureau

Total fiscal year 2015 state debt, U.S. Census Bureau
State	Total state debt	State debt per capita	State debt ranking	Per capita debt ranking
Nebraska	$1,809,126,000	$955	49	49
Iowa	$6,120,464,000	$1,960	37	40
Kansas	$7,581,462,000	$2,608	32	34
South Dakota	$3,286,231,000	$3,830	46	16
United States total	$1,149,926,081,000	$3,582	N/A	N/A
Sources: United States Census Bureau, "State Government Finances," accessed June 4, 2017

State Budget Solutions 2014 report

Total 2012 state debt
State	Total state debt	State debt per capita	Per capita debt ranking
Nebraska	$13,139,045,000	$7,081	49
Iowa	$37,783,060,000	$12,290	38
Kansas	$39,025,693,000	$13,523	28
Missouri	$76,489,010,000	$12,702	34
South Dakota	$7,707,458,000	$9,249	46
Sources: State Budget Solutions, "State Budget Solutions' Fourth Annual State Debt Report," January 8, 2014

Public pensions

See also: Nebraska public pensions

The U.S. Census Bureau does not include unfunded pension liabilities in its debt calculations. Others, including State Budget Solutions, do take these figures into account. Between fiscal years 2012 and 2014, the funded ratio of Nebraska's state-administered pension plans increased from 79 percent to 93 percent. For fiscal year 2014 the pension system's liability totaled $12,516 million.

Credit ratings

See also: State credit ratings

Credit rating agencies, such as Standard and Poor's, assign grades to states that take into account a state's ability to pay debts and the general health of the state's economy. Generally speaking, a higher credit rating indicates lower interest costs on the general obligation bonds states sometimes sell to investors in order to finance large-scale undertakings (e.g., road construction and other public works projects). This in turn results in lower interest costs, thereby lowering the cost to taxpayers. A high state debt may cause credit rating agencies to predict that the state will not be able to pay its debt, and so cause them to downgrade a state's credit rating.

The table below lists the Standard and Poor's credit ratings for Nebraska and surrounding states from 2004 to 2017. Standard and Poor's grades range from AAA, the highest available, to BBB-, the lowest.

State credit ratings, 2004 to 2017
State	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Nebraska	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AA+	AA+	AA+	AA+	AA+	AA+	AA+
Iowa	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AAA	AA+	AA+	AA+	AA+
Kansas	AA-	AA-	AA	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+	AA+
South Dakota	AAA	AAA	AAA	AA+	AA+	AA+	AA+	AA	AA	AA	AA	AA	N/A	N/A
Source: Stateline: The Daily News Service of The Pew Charitable Trusts, "Infographic: S&P State Credit Ratings, 2001-2014," June 9, 2014

Studies

Truth in Accounting 2017 report

In a report released in September 2017 by the nonprofit Truth in Accounting (TIA), states were ranked by taxpayer burden, a term that reflects "the amount each taxpayer would have to send to their state's treasury in order for the state to be debt-free" as of 2016. Nebraska ranked 5th, with a taxpayer surplus of $2,600.

To figure a state’s taxpayer burden or surplus, TIA looked at a state’s total reported assets minus capital assets and assets restricted by law (buildings, roads, land, etc.) to calculate “available assets,” which were then compared to the amount of money the state owes in bills, including retirement obligations such as pension plans and healthcare benefits for retirees. If the difference between available assets and total bills was positive, TIA called this a taxpayer surplus; if it was negative, this was a taxpayer burden. This amount was then divided by the number of individual tax returns with a positive tax liability, thus expressing the total state surplus or burden on a per-taxpayer basis.

The table below lists the taxpayer burder or taxpayer surplus in Nebraska from 2009 to 2016. In the table below, negative figures represent a taxpayer burden, while positive figures represent a taxpayer surplus.

Taxpayer surplus or burden, Truth in Accounting, 2009-2016
Year	Surplus or burden
2009	$2,500
2010	$2,400
2011	$2,100
2012	$2,000
2013	$2,200
2014	$2,800
2015	$3,500
2016	$2,600
Source: Truth in Accounting

Recent news

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Nebraska state debt, 2004-2017 - Google News

See also

• Nebraska state budget and finances
• Tax policy in Nebraska
• Nebraska public pensions
• Nebraska State Senate
• Nebraska House of Representatives
• Nebraska State Legislature
• State debt