Debt & Borrowing

 

Debt & Borrowing

States issue debt and maintain widely accepted debt policy standards to borrow money primarily for capital intensive infrastructure projects. Annual debt service expenditures represent a relatively small but important component of state budgets. Current municipal market trends suggest states will continue to have the sufficient financing necessary for large scale public works and improvement projects.

Staff Contact: Michael Streepey

NASBO Publications

  • State Expenditure Report 2010 (Fiscal 2009-2011 Data)
    This report finds that the recent improvement in the national economy has not translated to strong growth in total state spending. This is largely due to the fact that state revenues have not increased as fast as Recovery Act funds have declined, leading to a unique situation in which total state expenditure growth has slowed during the same time that the national economy has been improving.
  • Fiscal Survey of States, Fall 2011
    Although state fiscal conditions continue their slow improvement in fiscal 2012, they are likely to remain constrained due to the lack of a strong national economic recovery and the withdrawal of Recovery Act funds. This slow improvement in state finances is highlighted by the 38 states that reported general fund spending growth in 2011 and the 43 states that reported spending growth for 2012. However, 29 states still have lower general fund spending in fiscal 2012 compared to the pre-recession levels of fiscal 2008.

Washington Report

Press Clips

Recently Released Reports