U.S. and Utah debt policy: a study in contrasts

The state of Utah's bonding practices vary dramatically from that of the federal government. Instead of borrowing for ongoing programs as the federal government does, Utah wisely borrows for needed capital projects such as highways and buildings. Borrowing in both the U.S. and Utah has increased dramatically over time. Federal government debt as a percent of the U.S. economy, currently at 124% of gross domestic product (GDP), raises serious questions, while Utah's borrowing demonstrates fiscal restraint and prudence.