#17, New York
Debt 2010: $123.04 billion
Pre-budget Deficit 2011: $8.50 billion
GDP 2009: $1.18 trillion
Debt/GDP Ratio: 10.45 percent
On the chopping block: With the threat of a shut down in Albany and the state’s finances verging on desperate, the state legislature finally passed a budget in early August. The state's public schools may also be nearing desperation, as the cuts proposed by Governor David Paterson include chopping $1.1 billion for state aid to schools.