Fiscal Health Of States

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The Nation's Fiscal Health: Action Is Needed to Address

The Gao.gov Get All

12.29.2351 hours ago

1. According to the 2019 Financial Report, the federal deficit in fiscal year 2019 increased to $984 billion—up from $779 billion in fiscal year 2018. Federal receipts increased by $134 billion, but that was outweighed by a $339 billion increase in spending driven by increases in Medicare and Medicaid, Social Security, defense, and interest on debt held by the public. Debt held by the public increased from $15.8 trillion (or 77 percent of gross domestic product (GDP)) at the end of fiscal year 2018 to $16.8 trillion (or 79 percent of GDP) at the end of fiscal year 2019. By comparison, debt has averaged 46 percent of GDP since 1946.

Link: https://www.gao.gov/products/gao-20-403sp

Category: State by state fiscal healthShow more

Best States for Fiscal Stability US News Best States

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5 hours agoThe fiscal stability of states was assessed both on a short-term and long-term basis. State credit ratings and public pension liabilities were measures of long-term financial health, while asset

Link: https://www.usnews.com/news/best-states/rankings/fiscal-stability

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The Nation's Fiscal Health: Action Is Needed to Address

The Gao.gov Get All

1 hours agoThis report describes the fiscal condition of the U.S. government as of the end of fiscal year 2018 and its future unsustainable fiscal path absent policy changes. It draws on the Fiscal Year 2018 Financial Report of the United States Government (2018 Financial Report) and GAO’s audit of the government’s consolidated financial statements.

Link: https://www.gao.gov/products/gao-19-314sp

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State Fiscal Rankings Mercatus Center

State Mercatus.org Get All

5 hours agoEach edition has provided a snapshot of each state’s fiscal health by providing information from audited state financial reports in an easily accessible format. In “Ranking the States by Fiscal Condition, 2018 Edition,” Eileen Norcross and Olivia Gonzalez calculate this year’s rankings from each state’s fiscal year 2016 reports and

Link: https://www.mercatus.org/publications/urban-economics/state-fiscal-rankings

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Why the Fiscal Health of States and Cities Matters

Why Cfr.org Get All

Just NowCompounding this fiscal plight, federal stimulus largesse to states and cities is drying up. For FY2012 (ending in September), states and cities received just $24.1 billion in aid, down from an

Link: https://www.cfr.org/backgrounder/why-fiscal-health

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Ranking the states according to their 'fiscal health'

Ranking Personalliberty.com Get All

Just NowThe study, which builds on previous Mercatus research about state fiscal conditions, provides information from the states’ audited financial reports in an easily accessible format, presenting an accurate snapshot of each state’s fiscal health. … This ranking of the 50 states is based on their fiscal solvency in five separate categories:

Link: https://personalliberty.com/ranking-the-states-according-to-their-fiscal-health/

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The fiscal health of state and local governments across

The Federalism.us Get All

9 hours agoThe 2019 update to the GAO’s annual outlook on the fiscal condition of states and localities suggests that state and local governments will have an increasingly tough time covering its bills over the next 50 years. Although the GAO model shows revenue will increase, spending will likely rise faster—driven largely by health care costs

Link: https://federalism.us/2020/04/the-fiscal-health-of-state-and-local-governments/

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State Fiscal Health: 10 States Facing Tough Times And 10

State Forbes.com Get All

Just NowNationally, as of fiscal 2019, states had accumulated about $87 billion in fund balances, including about $63 billion in formal rainy day funds—about 10% of

1. Author: Chuck Devore
Estimated Reading Time: 5 mins

Link: https://www.forbes.com/sites/chuckdevore/2019/02/05/state-fiscal-health-10-states-facing-tough-times-and-10-states-looking-strong/

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Five Key Measures of California's Fiscal Health

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2 hours ago

1. Tax Rates: The state has the nation’s highest income, sales and gas taxes, when cap and trade is included. California also has the highest corporate tax in the western United States and the fourteenth highest property tax.
2. Unfunded Pension Obligations: The Legislative Analyst’s Office estimates current CalPERS, CalSTRS and UC Pension unfunded liabilities at approximately $140 billion.
3. Unfunded Retiree Medical Obligations: Data from 2013 showed California ranked second in the nation with $66.0 billion in unfunded retiree medical costs.
4. Deferred Infrastructure Maintenance: California has 31,827 miles of major roads and at least 34 percent of these are rated in ‘poor’ condition. The Reason Foundation’s Adrian Moore recently pegged the unfunded road maintenance number at $59 billion (OC Register, January 16, 2015).
5. Unrestricted Net Assets/Deficits: California’s most recent Comprehensive Annual Financial Report (CAFR) shows an unrestricted net deficit of $117 billion.

Link: https://californiapolicycenter.org/five-key-measures-of-californias-fiscal-health/

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Best States for LongTerm Fiscal Stability US News Best

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5 hours agoThe Pew Charitable Trusts evaluated states based on data from the 2018 fiscal year. A higher value indicates a lower trust fund solvency, or ability to meet fixed long-term expenses, and is

Link: https://www.usnews.com/news/best-states/rankings/fiscal-stability/long-term

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GAO’s Grim Diagnosis of America’s Fiscal Health Pursuit

Grim Ourpursuit.com Get All

3 hours agoLast week, the Government Accountability Office (GAO) issued “The Nation’s Fiscal Health,” an annual report that describes the fiscal condition of the United States. The report finds that America’s fiscal health is ailing. More pointedly, “absent policy changes, the federal government’s fiscal path is unsustainable.”.

Estimated Reading Time: 5 mins

Link: https://www.ourpursuit.com/gaos-grim-diagnosis-of-americas-fiscal-health/

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Best & Worst State Economies WalletHub

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2 hours ago

1. Not all economic growth strategies are effective. For the best ways to stimulate the economy and achieve lasting prosperity, we asked a panel of experts to share their thoughts on the following key questions: 1. What are the most effective ways for state and local officials to boost their local economies? 2. What can states do to prevent “brain drain” and develop, attract and retain highly skilled workers? 3. States often compete for business investment by offering tax breaks and other incentives. Do such efforts more often result in a net positive or net negative impact on state economies? Do such efforts create a “race to the bottom” across states? 4. What makes a state attractive to potential entrepreneurs? 5. In evaluating the states with the best economies, what are the top five indicators?

Link: https://wallethub.com/edu/states-with-the-best-economies/21697

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12 States With the Best Fiscal Health ThinkAdvisor

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8 hours ago12 States With the Best Fiscal Health The study found that typically the worst fiscal states experienced ongoing structural deficits and underfunded pensions.

Link: https://www.thinkadvisor.com/2018/10/12/12-states-with-the-best-fiscal-health/

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What Is Your State’s Fiscal Health Ranking? Financial Sense

What Financialsense.com Get All

1 hours agoOriginally published at the Independent Institute. It’s ranking season for comparing the relative health of individual U.S. states! After covering how your state ranks on personal income taxes, it’s now time to dig deeper into your state’s fiscal health, which we can do with the 2018 edition of the Mercatus Center’s State Fiscal Condition Rankings, which were just published earlier

Link: https://www.financialsense.com/independent-institute/what-your-states-fiscal-health-ranking

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2020 Financial State of the Cities : News : Truth in

Financial Truthinaccounting.org Get All

Just Now

1. Irvine Taxpayer Surplus: $4,100.
2. Washington, D.C. Taxpayer Surplus: $3,500.
3. Charlotte Taxpayer Surplus: $3,400.
4. Fresno Taxpayer Surplus: $3,200.
5. Plano Taxpayer Surplus: $2,800.
6. Stockton Taxpayer Surplus: $2,600.
7. Lincoln Taxpayer Surplus: $2,500.
8. Aurora Taxpayer Surplus: $2,200.
9. Arlington Taxpayer Surplus: $2,100.
10. Tampa Taxpayer Surplus: $1,700.

Link: https://www.truthinaccounting.org/news/detail/2020-financial-state-of-the-cities

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Understanding States' Fiscal Health During and After the

Fiscal Urban.org Get All

7 hours agoUnderstanding StatesFiscal Health During and After the 2001 Recession by Elaine Maag and David F. Merriman Introduction Every state except Vermont operates under some sort of balanced budget requirement (National Con-ference of State Legislators 1999). That means that to serve the increased need of distressed populations

Link: https://www.urban.org/sites/default/files/publication/31101/1001135-Understanding-States-Fiscal-Health-During-and-After-the-Recession.PDF

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Ranking the States by Fiscal Condition Tax Foundation

Ranking Taxfoundation.org Get All

8 hours agoThese measures matter. As Norcross writes, “Even states that appear to be fiscally robust—perhaps owing to large amounts of cash on hand or revenue streams from natural resources—must take stock of their long-term fiscal health before making future public policy decisions.”

Estimated Reading Time: 6 mins

Link: https://taxfoundation.org/ranking-states-fiscal-condition/

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State Fiscal Health Workgroup NCSL

State Ncsl.org Get All

9 hours agoThe NCSL Fiscal Affairs Program assembled the State Fiscal Health Work Group in 2012. The bipartisan, 17-member group includes some members of NCSL’s Budgets and Revenue Committee and other legisla-tors and legislative staff who are recognized experts on state budget and tax issues. The group met twice in

Link: https://www.ncsl.org/documents/fiscal/NCSL_A_Guide_to_Better_State_Budgeting_Practices_Oct_2016.pdf

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Freedom in the 50 States 20172018: Overall Freedom Cato

Freedom Freedominthe50states.org Get All

4 hours agoHow free is your state in Overall Freedom? Find out! The Freedom in the 50 States 2017-2018 index from the Cato Institute measures freedom across a range of over 230 policies and across personal, regulatory and fiscal dimensions.

Link: https://www.freedominthe50states.org/overall

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Best & Worst States for Fiscal Health ThinkAdvisor

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6 hours agoBest & Worst States for Fiscal Health. by Gil Weinreich January 16, 2014 at 02:07 AM Share & Print. X. Share with Email. Listen to free podcasts to …

Link: https://www.thinkadvisor.com/2014/01/16/best-worst-states-for-fiscal-health/

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How Does Tax Reform Change a State’s Fiscal Health

How Mercatus.org Get All

12.29.235Just Now

Estimated Reading Time: 9 mins
Published: Nov 19, 2018

Link: https://www.mercatus.org/bridge/commentary/how-does-tax-reform-change-states-fiscal-health

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New tool ranks the fiscal health of cities across the state

the Turlockjournal.com Get All

6 hours agoThe California State Auditor launched a new tool—an online dashboard—that ranks more than 470 California cities based on detailed information about their fiscal health. The ranking is part of

Link: https://www.turlockjournal.com/news/government/new-tool-ranks-fiscal-health-cities-across-state/

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The 10 Best States For Fiscal Stability WorldAtlas

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Just Now

1. Author: John Misachi
Published: May 28, 2018
Estimated Reading Time: 4 mins
2. Utah. Utah State is ranked the best in fiscal stability. The booming economy, stable business environment, and favorable tax policy keep the State on the top.
3. North Dakota. As the second best state in fiscal stability, North Dakota is the best state in short-term fiscal stability. The high rating is contributed by the state’s ability to have a balanced budget and availability of sufficient capital to cover short-term liabilities.
4. Florida. Florida State is ranked 3rd and 15 in of short term and long term fiscal stability respectively. The state scored highly in infrastructural development, job and business opportunities, education standards, and budgetary control.
5. South Dakota. South Dakota is ranked 5th and 6th in short and long-term fiscal stability respectively. The ranking is an indicator of a balanced fiscal state with an emphasis on the present and future economic focus.
6. Tennessee. Tennessee is ranked 1st in long-term fiscal stability and 9th in short-term fiscal stability. The long-term strength incorporates the ability to plan adequately for pension obligations as well as issue bonds at a favorable cost.

Link: https://www.worldatlas.com/articles/the-10-best-states-for-fiscal-stability.html

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Fiscal Health of States CSPAN.org

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9 hours agoFiscal Health of States; Martin Luther King Day of Service; More Videos . More information about Fiscal Health of States. 962 Views Program ID: 297546-4 …

Link: https://www.c-span.org/video/?297546-4/fiscal-health-states

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The 10 Worst States for Fiscal Stability WorldAtlas

The Worldatlas.com Get All

1 hours ago

1. Illinois. Illinois State is ranked as the worst performing in the fiscal stability index. In terms of short term and long term fiscal stability, the state is ranked 49 and 50 respectively.
2. New Jersey. Close scrutiny of the budget balancing, liquidity management, and long-term solvency indicates that New Jersey has taken the worst fiscal shape ever.
3. Louisiana. Louisiana State is rated the third worst in terms of fiscal stability. A budget deficit led to temporary taxes which did not necessarily fill the hole in the budget.
4. Alaska. Although it is ranked 4th worst in overall fiscal stability, Alaska has made improvements in the short-term. This has led to a rating of position 16 but the long-term fiscal stability has been rated poorly at position 49.
5. Kentucky. At position five, the Kentucky State is ranked 42nd and 47th in terms of short-term and long-term fiscal stability respectively. The worst grades in fiscal policy stability come from pension fund which is poorly managed and lowly funded.

Link: https://www.worldatlas.com/articles/the-10-worst-states-for-fiscal-stability.html

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Why we must worry about states' fiscal health News247plus

Why News247plus.com Get All

2 hours agoDespite a significant increase in central allocation, the fiscal situation of states is a cause for concern. It is worth highlighting that this increase in revenue deficit came despite the states getting guaranteed tax revenue growth of 14% due to central government’s compensation for any loss in revenue due to the goods and services tax (GST).

Link: https://www.news247plus.com/post.php?id=4466&title=Why-we-must-worry-about-states039-fiscal-health

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Fiscal Health of States CSPAN.org

Fiscal C-span.org Get All

9 hours agoScott Pattison of the National Association of State Budget Officers talked about his organization's recent report on the fiscal situation in all 50 states, and …

Link: https://www.c-span.org/video/?299876-3/fiscal-health-states

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State and Local Government Debt: An Analysis

State Sgp.fas.org Get All

9 hours agoThe fiscal health of many states has been severely strained by the prolonged economic slowdown following the recent recession, even after the official end of the recession in June 2009. State and local tax revenues have declined, expenditures for social insurance programs have increased, and

Link: https://sgp.fas.org/crs/misc/R41735.pdf

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Fiscal Health Committee for Economic Development of The

Fiscal Ced.org Get All

5 hours agoCED has a long record of advocacy for fiscal responsibility and sound macroeconomic policy. CED's "Fiscal Health Project" continues to generate innovative ideas, issue strong policy statements, and host public events to engage business leaders in the call for reform. CED's research advocates a comprehensive approach to reduce the federal budget

Link: https://www.ced.org/policies/fiscal-health/category/fiscal-health

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State Fiscal Health Index: September 2019 [EconTax Blog]

State Lao.ca.gov Get All

8 hours agoState Fiscal Health Index: September 2019. Bottom Line: Multiple signs suggest a slowdown could be on the horizon, but recent actions by the Federal Reserve could help improve economic conditions. If, despite Federal Reserve actions, conditions do not improve in the coming months the risk of a decline in state revenues would be high.

Link: https://lao.ca.gov/LAOEconTax/article/Detail/410

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The most and least fiscally successful states

The Msn.com Get All

6 hours agoState tax revenue per capita: $3,144. Percentage of people in poverty: 16.3%. Alabama is one of the least fiscally successful states because it has the lowest state tax …

Link: https://www.msn.com/en-us/money/markets/the-most-and-least-fiscally-successful-states/ss-BBFZFxy

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Fiscal health means more than current government debt

Fiscal En.irefeurope.org Get All

8 hours agoFiscal health means more than current government debt. Some “fiscally healthy” Eurozone governments are in fact in dire straits. Monday 2 March 2015, by Alexander Fink, Kevin Spur. The Greek bankruptcy of 2010 was the latest impetus for reviving the debate on robustness of …

Link: https://en.irefeurope.org/Publications/Online-Articles/Fiscal-health-means-more-than-current-government-debt

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Access FI$CalFI$Cal State of California. One state. One

One Fiscal.ca.gov Get All

6 hours agoFISCal Service Center Ticket Request Job Aid (Doc) Public Access to State Expenditures. Business Intelligence. Advanced Reporting Tools. Legacy Data Repository. Historical Record Archive. Cal eProcure. CA Online Marketplace. Department Liaison Network. Resources and information for DLs.

Link: https://fiscal.ca.gov/access-fiscal/

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Fixing America’s Failing Fiscal Health Government Executive

Fixing Govexec.com Get All

8 hours agoFixing America’s Failing Fiscal Health The United States will soon be deeper in debt than at any point in its history, including World War II and its aftermath.

Link: https://www.govexec.com/management/2020/09/fixing-americas-failing-fiscal-health/168752/

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Fiscally Speaking, Where Does YOUR State Rank? ⋆ Allen West

Fiscally Allenwesttx.com Get All

6 hours agoEach edition has provided a snapshot of each state’s fiscal health by providing information from audited state financial reports in an easily accessible format. In “Ranking the States by Fiscal Condition, 2018 Edition,” Eileen Norcross and Olivia Gonzalez calculate this year’s rankings from each state’s fiscal year 2016 reports and

Link: https://allenwesttx.com/fiscally-speaking-states-ranked/

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State Fiscal Health Index: August 2019 [EconTax Blog]

State Lao.ca.gov Get All

8 hours agoState Fiscal Health Index: August 2019. Bottom Line: Multiple signs suggest a slowdown could be on the horizon, but recent actions by the Federal Reserve could help improve economic conditions. If, despite Federal Reserve actions, conditions do not improve in the coming months the risk of a decline in state revenues would be high.

Link: https://lao.ca.gov/LAOEconTax/Article/Detail/404

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California earns 'F' grade for its fiscal health Los

earns Patch.com Get All

3 hours agoCalifornia earns 'F' grade for its fiscal health - Los Angeles, CA - A new analysis of California's finances found each state taxpayer would have to pay -$22,000 to erase the state's debt."

Link: https://patch.com/california/los-angeles/california-earns-f-grade-its-fiscal-health

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Better Fiscal Policy for Health Center For Global

Better Cgdev.org Get All

6 hours agoBetter Fiscal Policy for Health. Most deaths in low- and middle-income countries are caused by non-communicable diseases such as cancers, diabetes, heart disease, and injuries. Many of these deaths could be avoided by reducing smoking, excessive alcohol consumption, and high-sugar diets. Uniquely placed at the intersection of the health policy

Link: https://www.cgdev.org/topics/better-fiscal-policy-health

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Is your state solvent? The Washington Post

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1 hours agoBeing a working paper, it doesn’t carry the same authority as, say, a peer-reviewed article in an academic journal, but it still offers an interesting way to look at the fiscal health of states.

Link: https://www.washingtonpost.com/blogs/govbeat/wp/2014/01/21/is-your-state-solvent/

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South Carolina’s Fiscal Health : Palmetto Promise Institute

South Palmettopromise.org Get All

8 hours agoAugust 2, 2017. Adam Crain. Three new reports offer a fresh glimpse into South Carolina’s fiscal health: the summative condition of South Carolina’s strategic financial position relative to assets, revenue and liabilities. Talking about “fiscal health” may not make you the most popular guest at a cocktail party, but the fact is tax

Link: https://palmettopromise.org/south-carolinas-fiscal-health/

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NOT FOR SALE OR DISTRIBUTION Handbook of LocaL NOT …

NOT Samples.jbpub.com Get All

Just NowHandbook of Local Government Fiscal Health is an independent publication and has not been authorized, sponsored, or otherwise approved by the owners of the trademarks or service marks referenced in this product.

Link: http://samples.jbpub.com/9780763792305/92305_FMxx_PASS03.pdf

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Publication 509 (2021), Tax Calendars Internal Revenue

Tax Irs.gov Get All

800-906-98877 hours agoThe Volunteer Income Tax Assistance (VITA) program offers free tax help to people with low-to-moderate incomes, persons with disabilities, and limited-English-speaking taxpayers who need help preparing their own tax returns. Go to IRS.gov/VITA, download the free IRS2Go app, or call 800-906-9887 for information on free tax return preparation. TCE.

Link: https://www.irs.gov/publications/p509

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fiscal health English definition, grammar, pronunciation

fiscal Glosbe.com Get All

Just NowMultiUn. An equitable and efficient tax system, which is a crucial part of an enabling environment and fundamental to public fiscal health. UN-2. The Union budget must contribute - within its modest limits - to the efforts of all Member States to restore their fiscal health.

Link: https://glosbe.com/en/en/fiscal health

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Louisiana Earns ‘D’ Grade on National Fiscal Health

Louisiana Bizneworleans.com Get All

8 hours agoLouisiana ranked 40th among the 50 states on fiscal health, according to the analysis by Truth in Accounting, which is a right-leaning think tank based in Chicago that reports on fiscal data from state and local governments. The amount of the state’s shortfall in funding to pay off its bills amounts to $17,100 per taxpayer, the study found.

Link: https://www.bizneworleans.com/louisiana-earns-d-grade-on-national-fiscal-health-ranking/

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Four Steps to US Fiscal Health PIIE

Four Piie.com Get All

6 hours agoThe United States can finance these deficits in the short term-in fact interest rates on US Treasuries have recently fallen to record low levels. But if there is no serious effort at fiscal consolidation, serious trouble lies ahead, both for the United States and for the world economy.

Link: https://www.piie.com/commentary/op-eds/four-steps-us-fiscal-health

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United States fiscal cliff Wikipedia

United En.wikipedia.org Get All

12.29.2356 hours ago

1. The term fiscal cliff has been used in the past to refer to various fiscal issues. The term started being used in the context of the expiration of the Bush tax cuts in 2010.In 2011, the term started to be used to refer to the point at which tax cuts would expire, and spending cuts would be triggered, that would have occurred in 2013 under a fiscal-cliff scenario. In late February 2012, Ben Bernanke, chairman of the U.S. Federal Reserve, popularized the term "fiscal cliff" for the upcoming red...
2. During a lame-duck session in December 2010, Congress passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The act extended the Bush tax cuts for an additional two years (until January 1, 2013) and "patched" the exemptions to the Alternative Minimum Tax (AMT) for tax year 2011. This act also authorized a one-year reduction in the Social Security (FICA) employee-payroll tax. The reduction was extended for the 2013 year by the Middle Class Tax Relief and...
3. A number of laws led to the fiscal cliff, including these provisions: 1. Expiration of the Bush tax cuts enacted as part of the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003, as extended by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010; 2. Across-the-board spending cuts ("sequestration") to most discretionary programs as directed by the Budget Control Act of 2011; 3. Reversion of t...

Link: https://en.wikipedia.org/wiki/United_States_fiscal_cliff

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Commonwealth Foundation Pennsylvania’s Use of ARPA Funds

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8 hours agoPennsylvania’s state budget for fiscal year 2021–22 includes $39.78 billion in ongoing state general fund spending (the “enacted budget”) plus $1.04 billion in one-time discretionary spending from the federal American Rescue Plan Act (ARPA). This analysis focuses on the use of discretionary ARPA funds, also called SLFR (State and Local

Link: https://www.commonwealthfoundation.org/policyblog/detail/pennsylvanias-use-of-arpa-funds

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Frequently Asked Questions

Which is the best state for fiscal health?

States with low levels of debt and unfunded pension liabilities and strong short-term indicators include Nebraska, Tennessee, and Utah. Fiscal implications of heavy reliance on oil tax revenue. Alaska, North Dakota, and Wyoming rely heavily on severance taxes on oil production as sources of revenue to finance government spending.

How is the financial health of a state determined?

Conducted by Eileen Norcross and Olivia Gonzalez, the 2018 study measures how well state governments within the U.S. are able to meet their short and long-term obligations based on their financial statements.

How is the fiscal condition of each state determined?

In “Ranking the States by Fiscal Condition, 2018 Edition,” Eileen Norcross and Olivia Gonzalez calculate this year’s rankings from each state’s fiscal year 2016 reports and then apply trend analysis to reports for each year from 2006 until 2016.

Why are some states more fiscally responsible than others?

Some states are more fiscally responsible than others. Fiscal Stability is of great importance in ensuring the success of programs and projects of the government. Weak fiscal health hampers service delivery since the economic strength of a state is unable to sustain development.

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