So how to calculate the state you live in? First we need every state government transparency,
www.BudgetIllinois.gov Hopefully the information you want is there in your state. If not it will be there in the years to come. Anyway, the information we seek is what is the total interest payment the state pays on monies borrowed versus the total revenues the state takes in = a rating. This rating should be a scale of zero to 100. The rate should be firm and posted. Then the rate should be posted to and for and against all fifty states for a far more accurate read and understanding. as equalities and inequalities can then be discerned.
Stop.
Disclaimer; All of the above is puritan data.
As the state interest payment is correct, unchanged and certain.
But what of state government revenues? This is the explosive variable and subject to any and all changes, subject to and of "state accounting standards" if that is a wording and or existence. Take for example the total amount illigal drugs revenues not collected in your state. How much money is that? Why are those illegal drug revenue monies not collected in your state?