So which US States are in HUGH deficits ending 2019?

B

bhaktajan

Hare Krishna Templar
A]
Forty states do not have enough money to pay all of their bills, according to quantitative analysis in Financial State of the States, the ninth annual report published this evening by Truth in Accounting (TIA). TIA is a non-partisan, not-for-profit government finances watchdog. To balance the budget, “elected officials have not included the true costs of the government in their budget calculations and have pushed costs onto future taxpayers.” TIA’s comprehensive analysis of the fiscal health of all 50 states is based on the states’ fiscal year 2017 comprehensive annual financial reports (CAFRs).

“With the robust growth in the economy, you would have expected a big improvement in state finances” stated TIA CEO Sheila Weinberg. “Unfortunately, that is not the case. State finances still deteriorated. While unfunded pension liabilities slightly decreased due to a 7% increase in the value of pension assets, this decrease was more than offset by an increase in unfunded retiree health care benefits.”
https://www.forbes.com/sites/mayrar...annotaffordtopayalloftheirbills/#15d49829718a
 
B]
After years of slow progress, states benefited from a more promising economic and fiscal environment in 2019. Pressure on state finances eased as the U.S. economic recovery became the longest on record and revenue upswings led many states to post budget surpluses. Still, not all states had fully recovered from the shocks of the Great Recession more than a decade ago. Some were in a stronger position than others as the U.S. faced new economic uncertainties in 2020, particularly those stemming from the global effects of the coronavirus outbreak.

As most states closed out their 2019 budget year, growth in tax receipts provided widespread relief for the second year in a row, but the trend showed signs of moderating. After adjusting for inflation, tax collections in a record 45 states surpassed their recession-era peaks. The extra revenue led many states to add to their rainy day funds, which could cover a larger share of spending than before the recession in two-thirds of the states.
https://www.pewtrusts.org/en/research-and-analysis/data-visualizations/2014/fiscal-50#ind0
 
C]
This is a list of U.S. state government budgets as enacted by each state's legislature. Note that a number of states have a two-year or three year budget (e.g.: Kentucky) while others have a one-year budget (e.g.: Massachusetts).

Which US states have the most debt?
10 states where residents have the most debt, ranked by DTI
Rank State (including D.C.) Total debt per capita
1. Washington, D.C. $84,380
2. Colorado $68,450
3. California $70,100
4. Arizona $51,300
Jun 19, 2019
 
D]
For the fifth and final year, a new study from the Mercatus Center at George Mason University ranks the 50 states according to their financial condition. Each 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 then apply trend analysis to reports for each year from 2006 until 2016.

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