Fiscal Condition of States

[EddieWalker]

I think the top 6 are skewed by the amount of federal money they get. Alaska is obvious, the feds own most of the state, and with the state government, are in the top 3 of employers there. The only significant private employer is the oil pipeline business. Florida is full of folks getting SS, and Medicare, along with the fact that the retirees bring their wealth with them, that pumps up the finances. Tourism helps both of these states, more than the average. The other states are low population, and get a lot of transfer payments - SS and medicare again.

I'm confused. Alaska is number one because of all the money it generates from oil. Every citizen in the state gets a check every year as profit sharing because of all the money they make from oil.

This chart shows which states get the most federal money, there does not seem to be any corrolation to what a state gets in federal money and how well the state manages their budgets.

2015?s States Most & Least Dependent on the Federal Government | WalletHub®

Eddie

 

[EddieWalker]

New Jersey ranks 49 many thanks to Chris Christie, for those who think he would be a great president, look at his track record and what he has NOT done for NJ.

I'm not a fan of Christie and hope he drops out quickly. From what I'm seeing, there is very little interest in him. But blaming him for the problems in New Jersey is pretty superficial. New Jersey was in bad shape before he became Governor. He may or may not be doing anything to fix the problems, but the real problem there is the House and Senate. His failure is more in not being able to get them to fix the problems that they have created long before he was there.

Eddie

 

[paulharvey]

I think the top 6 are skewed by the amount of federal money they get. Alaska is obvious, the feds own most of the state, and with the state government, are in the top 3 of employers there. The only significant private employer is the oil pipeline business. Florida is full of folks getting SS, and Medicare, along with the fact that the retirees bring their wealth with them, that pumps up the finances. Tourism helps both of these states, more than the average. The other states are low population, and get a lot of transfer payments - SS and medicare again.

Florida is a bit more diverse then you realize. We are number 3 in cattle, #2 in ag, /3 in non-fuel mining, major in shipping/trucking, got some defense industry, military, think we are in top 5 timber producers

Florida is a three legged stole; tourism, ag, and old farts/real estate; our problem is when a 3 legged stole looses a leg, it's darn hard to balance...

Edit: some of those rankings might be a few years old, so if you dig something up showing different, I wouldn't argue

Re-edit; looks like in 2004 Fla was 10th in total value of ag, and outside of top ten in "livestock" in total $ worth; funny how tweeking a definition, you can make facts do what ever you want

 

[KennyG]

Ohio up in 7th, but we have a lot of city taxes and rural school taxes etc, the State Gov has basically pushed everything off on small cities townships etc that they can and cut funding to school fire etc. So the schools go to voters and say we are not busing & cutting sports music etc unless people vote in a land/income tax onto the land owners farmers...

Most states now also have Balanced budget acts on/in state Constitutions (Ohio does.)


Mark

True, but they can balance the budget by borrowing (bond issues) or funny math on pensions. A recent Wall Street Journal article talked about how states and cities reduced their pension contributions by using very old actuarial tables (assuming early deaths) and by projecting abnormally high returns on investments.

 

[Tomtint]

Mass is circling the drain. We have had Obamacare here since Romney wrote and implemented the law back when he was Gov. Add to that a corrupt state government, Union labor milking the system, more and more enrollment in welfare programs every day and a heroin problem that would make your head spin and it's only a matter of time before we are completely **** up.