Iowa's Government Debt Reaches All-Time High

By: The Associated Press Email
By: The Associated Press Email

Iowa's government debt has reached a new all-time high and is now the equivalent of more than $4,700 per resident, according to a report obtained by the Des Moines Register.

The Register says the state treasurer's office will release a report on Monday showing that state agencies, counties, cities, school districts and other public groups have accumulated $14.4 billion in debt. That's up more than four percent from a year ago and nearly 40 percent over the last five years.

Some state officials say the report isn't necessarily a cause for alarm. State Treasurer Michael Fitzgerald says borrowing makes sense when providing essential, long-term services such as water plants and schools.

Moody's Investor Services also says Iowa has the nation's 48th-lowest per-capita level of government debt.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WOWT NBC Omaha 3501 Farnam Street Omaha, NE 68131 (402) 346-6666
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 180704791 -
Gray Television, Inc.