(The Center Square) – A new Reason Foundation report pegs California as the state with the nation’s highest debt .

The report found that the California state government carries more debt than any other state, with $497 billion in liabilities. The findings stem from 2023, the most recent year for which complete data was available, according to the Reason Foundation, a think tank with offices in Washington, D.C., and Los Angeles .

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California’s state government debt pencils out to about $12,500 per Californian, the report found. However, if local government and public school d

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