Debt Per Capita

Why it Matters: Debt per capita represents the portion of total state government debt that is "owed" by each Michigan citizen. From 2003 to 2009, debt per capita increased each year, from $1,176 in 2003 to $2,420 in 2009. Debt per capita decreased slightly in 2010 and 2011 before increasing again in 2012 to $2,646. The primary reason for the most recent increase is the issuance of bonds in order to repay federal advances received in prior years by the Michigan Unemployment Trust Fund, thereby eliminating the deficit in that fund.