To the editor,

The level of state debt in Rhode Island has reached a crises level. The Portsmouth Concerned Citizens has been recommending a “no” vote on all state bond proposals for years. 

The fundamental truth is that those who work for a living cannot afford them, and it is hugely irresponsible for the Assembly to propose their passage. Unfortunately, our state’s voters appear to believe that debt is free, and have an unfortunate history of passing anything proposed. It is like eating peanuts; we can’t seem to stop.

Rhode Island had the second-highest per-capita level of state debt nationally in 2020. In 2022, Rhode Island ranks third among all states with Massachusetts surging past Rhode Island and Connecticut. 

Debt by state 2022:

State           State debt               Per-capita debt           2022 population

Mass.       $77.043 million            $10,810.99                    7,126,375

Conn.       $38.756 million            $10,728.90                    3,612,314

R.I.            $8.932 million               $8,073.80                       1,106,341

Alaska      $5.922 million               $8,023.75                         738,023

The comparison above from worldpopulationreview.com is not a competition we want to win. It’s a list of the top four states which have abused debt in order to spend more money than they should. State governments are not known for prudent management of borrowing, and we are at the top of the list. Total Rhode Island state debt is just short of $9 billion.

According to the Secretary of State’s Voter Information Handbook, there are three bonds proposed on the Nov. 8 ballot, with a total principal of $400,000,000 and a total cost of $641,940,750, when interest is added. The hard fact of life is that all those who pay income taxes will pay all the principal and interest on these bonds within their 20-year term.

Rhode Island taxpayers should vote against all state debt until the level falls to a more reasonable level.

Larry Fitzmorris

President, Portsmouth Concerned Citizens

50 Kristen Court

Portsmouth