When a state government faces a large expense, such as adding lanes to a highway or restoring an aging bridge, officials often borrow the money, allowing these projects to move forward while spreading the costs out over time and to generations of taxpayers. Gauging whether a state can afford to take on new debt, though—and how much—can be difficult. When lawmakers face decisions over whether to issue bonds or how to manage existing debt, they need the right data to inform their choices. In 27 states, officials produce debt affordability studies that evaluate the impact of potential issuances on the state’s self-imposed debt caps. These data-driven analyses give states the power to manage debt in a way that aligns with their resources and spending priorities.[…]