Last week, we reported on State Comptroller Tom DiNapoli issued his office’s annual report on the state’s financial condition for the fiscal year that ended March 31, 2014.

We had a chance to take a closer look at the Comptroller’s report this week, and thought it worth noting that the report found that New York is second most indebted state in the nation (following only after California), and we rank fifth among all states in debt per person.

New York’s state-funded debt comes out to about $3,224 per person. The annual debt service on our state-funded debt was $7.5 billion in 2013-14, and is expected to grow to $8.6 billion by 2019.

This is a troubling trend that can only be addressed by growing our economy, and reducing state government’s reliance on debt funding.