To every proud new parent, your bundle of joy already owes more than $13,000. Babies born today arrive in the red when it comes to state debt, a new report says.
According to a study released Tuesday by State Budget Solutions, a nonpartisan group pushing for state budget reform, every American owes $13,425 in state debt on average. For private sector workers who are shouldering much of the tax burden, the amount of debt adds up to well over $37,000 per worker.
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