Nevada is No. 1 in the nation
Recently I reported that Nevada ranked No. 1 (excluding D.C) for under-reporting per-pupil spending in K-12 education. I recently discovered Nevada has another No. 1 education ranking in which it smashes the competition: debt-to-expenditure ratio.
Nevada's school debt for the end of FY 2006 was almost $4.9 billion, or 121 percent of total education expenditures in a year. That is a massive amount of borrowing Nevada's taxpayers are going to have to pay back.
In all, only five states topped 100 percent. The others are Michigan, South Carolina, Pennsylvania and Oregon. Michigan came in a "close" second at 112 percent.