According to Consumer Affairs research, states that voted for President Obama in the 2012 election have higher personal loan balances than states that voted for Mitt Romney.
Since states tend to vote for the same party in back-to-back presidential elections, it’s fair to say states that will likely vote for Hillary Clinton have more personal loan debt than those that will probably go for Trump.
“In government, Republicans have the reputation of being fiscally conservative, and the same may hold true when it comes to taking on personal debt,” says Kate Williams, Consumer Affairs’ director of research.
“The states with the highest personal loan balances in the first quarter of 2016 tended to vote blue in the 2012 presidential election, with nine out of 10 voting for Obama. Of the 10 states with the lowest per capita loan balances, 70 percent voted for Romney in the 2012 presidential election.”
Interestingly, the research also showed that states with fewer immigrants have more debt. “Among the top five states with the highest personal loan balances, only one, Montana, has a foreign-born population in the single digits,” Williams says.
Jason Russell is a commentary writer for the Washington Examiner.
