According to Newsweek , Swing states are crucial in every presidential election due to their potential to go either red or blue, which gives them significant weight in the Electoral College. As a result, candidates often tailor their campaigns to address the unique challenges these states face in order to secure votes.
A new study by MarketWatch Guides highlights how financial struggles, particularly high debt levels, are a significant issue in several key swing states. These economic pressures could influence voters in the upcoming election.
States with the Worst Debt
Nevada topped the list for the worst debt in America, earning a debt index score of 8.10. It was followed closely by Georgia, which ranked second with a score of 7.18. Arizona also made the list, coming in eighth with a score of 6.35.
The top 10 states with the worst debt are:
- Nevada
- Georgia
- Florida
- Texas
- Tennessee
- Delaware
- Maryland
- Arizona
- California
- Mississippi
Financial Struggles in Swing States
Nevada’s high debt levels are largely due to its significant number of business and personal bankruptcies. The state has eight business bankruptcies per 100,000 people and 221 personal bankruptcies per 100,000.
Georgia’s financial struggles are evident in its poor credit scores. The state ranks in the top five for the worst FICO scores, with an average score of 695. Georgians also have 249 personal bankruptcies per 100,000 residents, and the state has the third-highest student loan debt per borrower at $41,651.
Arizona faces a range of debt issues, including a debt per capita of $115,963. On average, Arizonans have 3.9 credit cards, further contributing to the state’s debt load.
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The Impact of Debt on Voters
All three of these swing states — Nevada, Georgia, and Arizona — have been trending toward Trump in recent elections. The high debt burdens in these states could be influencing this trend, according to Alex Beene, a financial literacy instructor at the University of Tennessee at Martin.
Beene explained that many Americans associate lower interest rates with Trump’s first term, as he has frequently pledged to work toward lowering rates again. This is particularly important for voters looking to refinance debt. While interest rates are already beginning to decrease, both major candidates are likely to advocate for policies that support lower rates, regardless of the election’s outcome.
Recent polling shows a tight race between Kamala Harris and Donald Trump, with Harris leading by just 2 points among likely voters — 50% to 48%. As the election draws closer, the vote count in these swing states will be pivotal in determining the Electoral College outcome and, ultimately, the winner of the 2024 presidential race.
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