State Debt Burden
The following tables provide certain historical information and comparisons regarding debt outstanding and debt service. These tables reflect only then outstanding general and special obligation debt payable from the State's GRF.
| Year |
Principal Amount Outstanding (as of July 1) |
Outstanding Debt Per Capita | As % of Annual Personal Income |
|---|---|---|---|
| 1980 | $1,991,915,000 | $184 | 1.83% |
| 1990 | 3,707,054,994 | 341 | 1.82 |
| 2000 | 6,308,680,025 | 555 | 1.97 |
| 2001 | 6,570,863,174 | 577 | 2.02 |
| 2002 | 7,086,317,648 | 621 | 2.13 |
| 2003 | 7,559,386,132 | 661 | 2.22 |
| 2004 | 8,110,709,343 | 708 | 2.30 |
| 2005 | 8,476,432,135 | 740 | 2.32 |
| 2006 | 8,909,382,567 | 777 | 2.34 |
| 2007 | 9,211,911,840 | 803 | 2.30(b) |
| 2008 | 8,631,565,254 | 753(a) | 2.16(b) |
| Fiscal Year | Debt Service Payable | Total GRF Revenue and Net State Lottery Proceeds | Debt Service as % of GRF Revenue and Lottery Proceeds | Debt Service as % of Annual Personal Income |
|---|---|---|---|---|
| 1980 | $187,478,382 | $ 4,835,670,223 | 3.88% | 0.17% |
| 1990 | 488,676,826 | 12,230,681,298 | 4.00 | 0.24 |
| 2000 | 871,313,814 | 20,711,678,217 | 4.21 | 0.27 |
| 2001 | 918,248,422 | 21,921,275,724 | 4.19 | 0.28 |
| 2002 | 926,142,216 | 22,072,703,100 | 4.20 | 0.28 |
| 2003 | 959,489,678 | 23,055,920,100 | 4.16 | 0.28 |
| 2004 | 1,013,222,412 | 24,678,909,000 | 4.11 | 0.29 |
| 2005 | 1,097,842,137 | 26,195,614,000 | 4.19 | 0.30 |
| 2006 | 1,128,591,711 | 26,492,277,500 | 4.26 | 0.30 |
| 2007 | 1,216,382,190 | 26,447,718,900 | 4.60 | 0.30(b) |
| 2008 | 1,231,640,023 | 27,331,442,423 | 4.51(a) | 0.31(b) |
(a) Based on July 2007 population estimate. (b) Based on preliminary 2007 personal income data. |
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