Thursday, October 1, 2020

Top Ten States in the Worst Financial Condition



Truth in Accounting has released the eleventh edition of their flagship Financial State of the States report. This year's report analyzes the fiscal health of the 50 states prior to the coronavirus pandemic. Of course, the situation has gotten worse for almost all states since the lockdowns.

The report found that 39 states did not have enough money to pay all of their bills. Most of the states were ill-prepared for any crisis, much less one as severe as massive lockdowns of state economies.

Top Ten States in the Worst Financial Condition

  • 50. New Jersey
  • 49. Illinois
  • 48. Connecticut
  • 47. Hawaii
  • 46. Massachusetts
  • 45. Delaware
  • 44. Kentucky
  • 43. California
  • 42. Vermont
  • 41. New York

Top Ten States in the Best Financial Condition

  • 1. Alaska
  • 2. North Dakota
  • 3. Wyoming
  • 4. Utah
  • 5. Tennesse
  • 6. South Dakota 
  • 7. Nebraska
  • 8. Idaho
  • 9. Oregon
  • 10. Iowa
Truth in Accounting also implemented a grading system to give greater context to each state’s Taxpayer Burden or Taxpayer Surplus. Based on their grading methodology, three states received A's, eight received B’s, 14 received C’s, 17 received D’s, and eight states received failing grades. 

Alaska, North Dakota and Wyoming received grades of A.

New Jersey, Illinois, Connecticut, Hawaii, Massachusetts, Delaware, Kentucky and California received failing grades.

The full report can be found here.

-RW

6 comments:

  1. If Biden wins, you just know there will be massive bail-outs of the crappy, profligate-spending, spendthrift States, to repay and reward them for their politically-motivated Covid-19 shutdowns of their economies.

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    1. Yes, and the Dems already plan to divert much of the Stimulus money to those broke blue overspending states with the next Stimulus bailout. That is why Trump just stopped the Republican negotiations on it until after the election.

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  2. I’m happy to see Alaska at the top of both, and yes it is from theft, but at the same time, it’s corporatism at its finest. The State and the oil companies, which is where all the money comes from, have crony capitalism down pat.
    The good thing is it translates to Alaskans not being taxed by the state.

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    1. Are you from Alaska? Because your 'theft' claim is really unfounded as your not mentioning the 3rd and 4th pillars in that equation of the Native Corporations and Governing Boroughs.

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  3. Here is yet more economic data proving that the Democrat states are all the fiscally worst run states in the worst economic condition. One very notable exception is Oregon at number 9, which is VERY surprising, to say the least. I wonder how that happened, or is it just a fluke?

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