Jim, in many respects, Qld's finances are still superior to all other states. We are the only state in Australia, and one of only a few governments in the world to have fully funded state pension liabilities.
Yes, we have larger gross debt than other states, but thats mainly because we have spent it on infrastructure (i.e. good debt). Infrastructure that facilitates private sector economic growth.
But dont take my word for it. Here is a comparison of Bligh's debt position to Sir Joh's debt position. I've compared it to Sir Joh because many of the old farts that live in Qld have a fond nostalgic view of Sir Joh and his economic record.
* Sir Joh - gross debt of $24B in today's dollars.
* Bligh - gross debt $64B.
We all know debt is a function of population growth. So, how much debt did each queenslander have under the two regimes?
* Sir Joh - $9,231 debt per capita (in today's dollars)
* Bligh - $13,913 debt per capita
Not a vast difference. Probably be a lot closer because Bligh had a GFC, a 1-in-50 year drought, Cyclone Larry & Yassi, and the Great Flood of 2011.
