Worst Debt in America: Three Swing States Struggling Financially
According to Newsweek , Swing states play a critical role in U.S. presidential elections, as their Electoral College votes can swing either way, potentially deciding the outcome. These states also face unique economic challenges, which candidates often address during their campaigns to gain voter support.
A new study by MarketWatch Guides reveals that three key swing states are grappling with some of the highest debt levels in the country, highlighting the economic pressures facing voters in these regions.
Worst Debt in America: Swing States Struggling Financially
Nevada ranks as the state with the worst debt, receiving a debt index score of 8.10. Georgia follows closely behind in second place with a score of 7.18. Arizona rounds out the top ten, securing the eighth spot with a score of 6.35. These high debt levels are a significant concern for residents in these swing states.
The top ten states with the worst debt in America are:
- Nevada
- Georgia
- Florida
- Texas
- Tennessee
- Delaware
- Maryland
- Arizona
- California
- Mississippi
Nevada: High Business and Personal Bankruptcy Rates
Nevada’s financial struggles are largely due to its high rates of business bankruptcies (eight per 100,000) and personal bankruptcies (221 per 100,000). These factors contribute to the state’s position at the top of the debt index list.
Georgia: Poor Credit Scores and Rising Student Loan Debt
Georgia faces significant debt challenges, including an average FICO score of 695, placing it among the top five states with the worst credit scores. The state also sees 249 personal bankruptcies per 100,000 residents and ranks third in the nation for student loan debt, with an average of $41,651 per borrower.
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Arizona: Struggling with High Debt Across Multiple Metrics
Arizona ranks eighth due to its significant debt load in several areas, including a debt per capita of $115,963. Residents also carry an average of 3.9 credit cards, contributing to the state’s financial strain.
Debt and the Political Landscape
These swing states—Nevada, Georgia, and Arizona—have been trending toward Trump in recent elections, and the high levels of debt in these states may play a role in this shift. According to Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, many voters associate the Trump administration’s first term with lower interest rates. Trump has frequently stated that he would work to bring interest rates back down, which is important for those looking to refinance debt.
Beene notes that the trend of steadily lowering interest rates is likely to continue regardless of who wins the election, meaning both candidates will likely provide some relief for those struggling with debt.
As the election draws near, recent polls show a tight race, with Vice President Kamala Harris leading former President Donald Trump by just two points among likely voters (50% to 48%). Ultimately, the outcome in the Electoral College will depend heavily on the votes cast in these critical swing states, where economic issues like debt may weigh heavily on voters’ decisions.
