this post was submitted on 26 Dec 2024
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Economy
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It's interesting that if you sort it by rank, you see that a lot of blue states are at the top of the list, seemingly meaning that blue states have more debt, however, that is only half the story. When you sort by the "Months to pay off", then you see that blue states have a higher income to debt ratio, and it is the red states that are in trouble with their debt.
This is the actual analysis the infographic should present. The ratio of income to debt is more revealing. All of Alabama can be up to their eyes in debt and this would miss that fact simply because their average income is lower.
Simply having dollar figures means practically nothing other than for a few smooth-brained people to look at the state where they live, see a number that isn't as much as they owe, and sigh that it could be worse.