States with the most and least amount of debt

Some Americans have student debt they'll be paying off for decades. Others have low-paying jobs keeping them in a vicious cycle of credit card debt just to make ends meet. They all are struggling with debt, and it's something whole states are struggling with, too. Fixed pension costs are rising, as more public employees like teachers and firefighters are retiring. These commitments are putting more and more states into the red.

Even if you aren't drawing a state pension, the debt that it fuels can impact you: States will be forced to raise taxes, cut programs, borrow money, and tighten budgets. Thus, it’s essential you know where your state stands.

To assess the damage, GOBankingRates conducted a study examining each state's total liabilities, total assets and the debt ratio between the two. We also determined each state’s total net position --total assets minus total liabilities — to provide the fullest picture possible. A debt ratio of more than 100 percent means a state owes more in liabilities than it has in assets. Click through to find out which states have the least amount of debt and which ones suffer from the most debt.