Kentucky's Auditor Breaks Down The State's Debt

FRANKFORT, Ky. -- Kentucky's auditor is revealing new details about the state's debt.

Auditor Mike Harmon says the state has $54.6 billion in total debt for the 2018 fiscal year.

$43.3 billion, or nearly 80 percent of that debt, was because of unfunded pensions.

Among the remaining $11.2 million in bonded debt includes $3.85 billion in outstanding bonds for capital construction projects.

About $3 billion is towards higher education and student loans.

Harmon says the total debt is more than $12,000 for every person in the state.


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