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Bottom 5 States in Fiscal Condition: New Jersey, Connecticut, Illinois, Massachusetts, California

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Sunday, January 19, 2014 3:49 PM

Inquiring minds are digging into a George Washington University paper on State Fiscal Conditions, a ranking of 50 states, by Sarah Arnett.

PolicyMic Produced this Chart of State Fiscal Conditions based on the working paper.

Highlights and Lowlights

Let’s return to the original working paper for some highlights and lowlights.

 At the bottom of the rankings are New Jersey and Illinois. New Jersey faces long-run solvency problems due in part to nearly 15 years of underfunding its state and local pensions. It has an estimated unfunded pension liability of around $25.6 billion as well as $59.3 billion in unfunded liabilities for the health benefits of retired teachers, police, firefighters, and other government workers (State Budget Crisis Task Force 2012).

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