Arizonan's household debt has increased 66 percent in less than a decade, according to a new report from the Goldwater Institute.
The report said every person owes state and local governments more than $7,500 for bills ranging from sports stadiums to parking garages.
The report said the debt was $4,568 per Arizonan in 2000.
Arizona's per-person debt load is almost $1,000 more than the national median of about $6,800.
In his report, Goldwater Institute Senior Economist Stephen Slivinski recommends seven reforms to rein in Arizona's debt, including a strict cap on debt for state and local governments, voter approval of all debt at the local level and transparency requirements for all state and local debt.
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Thursday, May 16 2013 2:06 PM EDT2013-05-16 18:06:52 GMT
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