New 2014 TIA Data (Released 4/13/15)

Financial State of Wisconsin

2013 TIA Data

Financial State of Wisconsin

Wisconsin owes more than it owns.  Truth in Accounting’s (TIA) thorough analysis of state finances (below) shows Wisconsin does not have enough available assets to cover its debt.

  • Taxpayer Burden is each taxpayer's share of state debt, after available assets are tapped
  • TIA analyzes both state assets and liabilities, not merely pension debt
  • Most state debt in the “Taxpayer Burden” is unpaid retirement promises

  • Wisconsin had the 30th worst Taxpayer Burden of all 50 states in 2013

  • Retirement debt is essentially a state’s ‘credit card balance,’ showing unpaid retirement contributions from prior years 

  • Unfunded pensions leave future taxpayers with the bill for services they did not receive

Wisconsin Comprehensive Annual Financial Report (Publishing Entity:  Wisconsin State Controller's Office)

Truth in Accounting’s methodology is unique, analyzing all state assets and liabilities, including unreported pension and retirement health liabilities.

  • Wisconsin only has $12 billion dollars in assets to cover its $20 billion dollars in liabilities
  • To fill this $8 billlion dollar gap between assets and liabilities, each taxpayer would have to pay the Wisconsin government in $4,100.
  • This $4,100 in taxpayer burden is 10% of Wisconsin's average income of $43,149
  • United Van Lines reported that Wisconsin had an outbound shipment of 44% in 2014. This typically means more people are moving out of the state.