Indiana, 3rd lowest state debt per person

TERRE HAUTE, Ind. (WTHI) - Indiana is outperforming 47 states during the recession. A new study released shows that the state of Indiana has one of the nation’s smallest debts numbers per person. But, what does this means for the future of the state and for you?

Since 2007 positive debt numbers have been difficult to find. Over the last two years we've heard so many news stories about the nation's rising debt.

That's why it might shock you to know that in Indiana, the government's debt isn't hurting the state and its set Hoosiers up for a decent future.

A new study released by the non-partisan State Budget Solutions group put a very personal touch to state debt.

According to their research: If Indiana’s citizens had to pay back the state debt tomorrow, each Indiana resident would pay 5,697 dollars.

It seems like a lot, but compare that a neighboring state like Illinois it would be over 21,000 dollars per person.

In fact, Indiana's low debt number puts the Hoosier state in top 3 for lowest debt per person in the country.

We sat down with economist Robert Guell to find out how Indiana has done so well in a recession.

"We’ve had a succession of governors that whether they are democrats or republicans they are fiscal conservatives,” Guell said.

But the numbers are more than a good report card for the state. It's a good foundation for the future.

"It means that’s we don't have to continue to fight to overcome the great recession in terms of being able to pay back this debt, so we can take off. Whereas other states with have to back fill from these last few years,” he said.