According to the Institute for Truth in Accounting (IFTA), Connecticut has been identified as the top financial “sinkhole” state in the nation. IFTA, a nonpartisan and nonprofit organization that works for greater accounting transparency across all levels of government and business, reports that the Constitution state is at the top of a list of five states which are in the worst financial position. According to the organization’s Financial State of the States report, Connecticut has $29.4 billion worth of assets, but only $10.1 billion are available to pay $63.4 billion of bills as they come due. In addition, each Connecticut taxpayer’s financial burden is $41,200.

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