Fiscal Condition of States

[KennyG]

This is an interesting study:

Ranking the States by Fiscal Condition | Mercatus

I'm posting it here because the states that are most at financial risk tend to be states with large cities and have serious underfunding of public pensions. However, they often also have significant rural populations (i.e. Illinois, California). How does your state rank? Who is going to suffer when the bills come due?

 

[Rayster]

We have had an influx of people from the "yellow" states the last few years. It amazes me when "those people" complain about our way of doing things.

That is very interesting information, thanks for posting.

 

[NoTrespassing]

I think the states in poor fiscal condition have another thing in common besides large cities, but if I mention it, the post will probably be closed due to it becoming political.

Kevin

 

[Kyle_in_Tex]

Texas would be in much greater shape if we didn't have the influx of illegals.

 

[Fawken]

Interesting data, and we all know the problem, but it's not politically correct to talk about it. Unfortunately, I myself, am not "politically correct" and am in a very bad mood due to having to confront one of the "problems" on a "personal" level this morning to prevent a 10' gate from being "scavenged."

 

[Old Junk Man]

The who thing is caused by too many parasite takers and too few producing makers. They have run out of producers to Robb(tax) so they borrow the shortfall . It simply is not sustainable.

 

[KennyG]

I know there are a lot of politically charged arguments about how this situation was created. However, I'm more interested in how it's going to play out in the future. Each state with financial problems is going to have to address this independently. Right now there is a battle going in Illinois between the new Republican governor who is insisting on belt tightening and the Democratic legislature that's going with business as usual (as I understand it). Each state is going to have to choose some compromise between cut-backs or defaults on obligations and increases in revenues (increased taxes). California and New York have been pursuing the increased tax approach for a number of years and it doesn't seem to be working. I'm wondering where some of the other states are heading on this. Will we end up with a bunch of "mini-Greeces" at the state level?

 

[flyerdan]

Oregon appears to be right in the middle of the pack, but I've a feeling that it will be closer to KY in a couple years. The sad part is that we could be thriving here if we could utilize our biggest resource, all the timber that currently feeds hostile bugs and wildfires.

 

[NorTracNY]

New York is very "interesting" in the manner the state is doing things. They are passing unfunded mandates down to the counties. The last few years our county includes a list and cost of all the mandates. All of our taxes in the county are unfunded mandates from the state. Then the state passes a "2%" tax cap. The voters need a 60% majority to pass anything over a 2% increase. With many people seeing the Fed as artificially keeping inflation down, what will happen if inflation hits 5-10%? I just shake my head...

 

[buckeyefarmer]

Saw that today. Was surprised KY was where it is. Was not surprised about much of the others, although thought Ohio would be a little lower. No surprise on MD. If it wasn't for the Fed's creating all the jobs here because of base closures, MD would be in a world of hurt. Tax everything more then tax it again. At least we finally got a decent Governor after years of suffering.