By Russ Wiles | Arizona Republic
The federal government might have a spiraling debt crisis, but Arizona’s cities, counties and state agencies are going in the other direction.
The total debt incurred by Arizona’s public-sector entities stood at $36.4 billion at the end of fiscal 2017 last June 30, down from $42.2 billion one year earlier.
Last year’s combined debt total was the lowest since 2008 and the first drop under $40 billion since then. It was also the third straight year of declining debt, though the two previous decreases were small.
Public sector indebtedness had jumped from $33 billion in 2007 to $44 billion in 2011 before leveling off.
