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The 10 States On The Verge Of A Fiscal Catastrophe
The Business Insider ^ | 11/13/09

Posted on 11/13/2009 7:09:28 AM PST by FromLori

It's not just California that's dragging the country down. Did you know Wisconsin was in trouble?

A new report by the Pew Center on the States, called Beyond California: States In Trouble, shows us the 10 that are weighing the country down.

The ranking looks at budget gaps, foreclosure rates, lost state revenues, unemployment, money-management practices, and where "super-majority" requirements are killing efforts to fix the financial mess.

Scores for each category are tallied for an overall ranking. We bring you the top 10, counting down from bad to worst. The higher score, the bigger the crisis. California gets a 30, while the national average is 17.

Of course, all states except for Montana and North Dakota faced budget shortfalls for fiscal 2010. And based on historical precedent, state budgets are likely to get worse, bottoming long after the national economy, with costs rising faster than revenue.

CHECK OUT THE 10 WORST STATE BUDGETS>>>

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: California
KEYWORDS: bhoeconomy; bluestates; deficit; economy; elections; hopeychangey; states; taxandspend; topten
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1 posted on 11/13/2009 7:09:31 AM PST by FromLori
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To: FromLori; perchprism; LomanBill; JDoutrider

ping


2 posted on 11/13/2009 7:10:10 AM PST by FromLori (FromLori)
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To: FromLori

How can it be that NY is not in the worst ten list? This state is going down the financial toilet faster than Obama’s approval rating.


3 posted on 11/13/2009 7:12:52 AM PST by GnL
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To: FromLori

Yahoo blames the fiscal problem on the “supermajority” when the real reasons for the problems are

1. Regulations chasing business out of California
2. Illegals using state benefits
3. High taxes chasing business out of California
4. Illegals
5. Environmentalists chasing business out of California
6. Did I mention illegals


4 posted on 11/13/2009 7:17:55 AM PST by clamper1797 (Would you hold my hand ... If I saw you in heaven ... to my angel in heaven)
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To: FromLori

Let Cap and Trade pass and the coal states will rocket to the top of this list. Where’s New York? It’s a lost cause already.


5 posted on 11/13/2009 7:18:30 AM PST by Drumbo ("Democracy can withstand anything but democrats." - Jubal Harshaw (Robert A. Heinlein))
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To: FromLori

Let Cap and Trade pass and the coal states will rocket to the top of this list. Where’s New York? It’s a lost cause already.


6 posted on 11/13/2009 7:18:56 AM PST by Drumbo ("Democracy can withstand anything but democrats." - Jubal Harshaw (Robert A. Heinlein))
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To: FromLori

Huh! I’m surprised that Pa. isn’t on the list. Then things must be REALLY bad in those ten states!


7 posted on 11/13/2009 7:19:09 AM PST by sneakers
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To: GnL

What do they have in common? Lots of progressive government.


8 posted on 11/13/2009 7:20:32 AM PST by lurk
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To: FromLori

For the Lazy:

1. CA
2. AZ
3. RI
4. MI
5. OR
6. NJ
7. FL
8. NJ
9. IL
10. WI


9 posted on 11/13/2009 7:21:58 AM PST by mmichaels1970
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To: FromLori

God Bless Texas.

No state income tax, general business-friendly policies, reasonable property values ... the country would be better off if every state followed the example set by TX.

SnakeDoc


10 posted on 11/13/2009 7:23:14 AM PST by SnakeDoctor ("Talk low, talk slow, and don't say too much." -- John Wayne)
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To: mmichaels1970

Why is NJ on the list twice?


11 posted on 11/13/2009 7:23:38 AM PST by Bloodclot
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To: mmichaels1970

Thanks, I could not get the link to work


12 posted on 11/13/2009 7:23:56 AM PST by SMARTY ("What luck for rulers that men do not think. " Adolph Hitler)
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To: Bloodclot
Why is NJ on the list twice?

Cause I'm an idiot. I think 6 is NV.
13 posted on 11/13/2009 7:25:03 AM PST by mmichaels1970
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To: FromLori

any of those Red States?


14 posted on 11/13/2009 7:25:48 AM PST by MNDude (The Republican Congress Economy--1995-2007)
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To: FromLori

Anyone else notice that they seem to blame these states financial instability on a lack of income tax?


15 posted on 11/13/2009 7:25:48 AM PST by Raider Sam (They're on our left, right, front, and back. They aint gettin away this time!)
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To: Bloodclot
Why is NJ on the list twice?

Because the "Garden State" is really bad?
#10 Wisconsin
#9 Illinois
#8 New Jersey
#7 Florida
#6 Nevada
#5 Oregon
#4 Michigan
#3 Rhode Island
#2 Arizona (Budget gap: 41.10%)
#1 California (Budget gap: 49.30%)

None of them are impressive, but AZ and CA are insane even by liberal standards.

16 posted on 11/13/2009 7:31:14 AM PST by TurtleUp ([...Insert today's quote from Community-Organizer-in-Chief...] - Obama, YOU LIE!)
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To: MNDude

All voted for Zero in the last election.


17 posted on 11/13/2009 7:31:44 AM PST by GOP_Party_Animal
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To: FromLori
I wonder if there is some sort very subtle, almost imperceptible pattern here...


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

18 posted on 11/13/2009 7:32:59 AM PST by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
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To: MNDude

Depends on what you mean by red I guess Florida has a republican governor but just like Minnesota they have a dfl legislature.

The report goes on to say all states except Montana and North Dakota have problems but those are the ones with the worse problems.


19 posted on 11/13/2009 7:33:55 AM PST by FromLori (FromLori)
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To: FromLori

If the state gov’t could just figure out how to get more moeny from us, they could solve all our problems. /s


20 posted on 11/13/2009 7:36:53 AM PST by umgud (I couldn't understand why the ball kept getting bigger......... then it hit me.)
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