New 2014 TIA Data (Released 4/13/15)
2013 TIA Data
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.