, which findings concur with many of Truth in Accounting’s findings. “Many states still struggle to balance budgets in the face of mounting obligations for health care, infrastructure, education, and public employee retirement costs.” The Volcker Alliance recommends that states need to do much better budgeting to prevent a fiscal crisis.
In its latest report, TIA ranks each state based on its Taxpayer Burden or Taxpayer Surplus. TIA defines a Taxpayer Burden as “the amount of money each taxpayer would have to contribute if the state were to pay all of its debt accumulated to date. Conversely, a Taxpayer Surplus is the amount of money left over after all of a state’s bills are paid, divided by the estimated number of taxpayers in the state. We split the states into two groups.
Alaska, North Dakota, Wyoming, Utah, and Idaho are the Top Sunshine States, since they have a surplus per each of their states’ taxpayers.Unfortunately, there are also sinkhole states where taxpayers are on the hook for the bills that the state cannot pay. New Jersey, by far is in the weakest condition.By definition, if a state has a balanced budget requirement, then spending should be equal to revenue brought in during a specific year.
Delaying the payment of current bills until the start of the next fiscal year so they aren’t included in the calculationsTIA also grades states from A – F based on their financial health and how much they leave their residents on the hook for unfunded liabilities. Only Alaska, North Dakota and Wyoming had an A. 44% of the states have a D or an F.
Hmmm so much for the economy getting stronger under Trump?
What happen to all that extra money from the lotto 🤔
I don’t believe it. Trying to help Dem in 2020
Really sad figures considering the favorable economic conditions we have had. Even worse as the economic conditions continue to look more unfovaroble going forward.
And yet, they continue to pour illegals into their cities. They made choice, no bailout.
Overwhelmingly leftist states- overwhelmingly in debt. No surprises here.
Yet realDonaldTrump harasses California
That will also go down the drain unless we BanDigitalElections
Wait til you hear about the federal government
Is this what you wanted, folks? You certainly voted for it. And for those of you who didn't vote against it, you sure earned it with your silence. USA AmericanHorrorStory
Stupidosaur Print more $?
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