View Full Version : WooHoo!! California the Worst Run State for 2 Years Running!!

12-01-2012, 08:09 PM
What a surprise!! California was just ranked the worst run state for the second year in a row now :wings: :rolleyes2:

The Best- and Worst-Run States in America

How well run are America’s 50 states? The answer depends a lot on where you live.

Every year, 24/7 Wall St. conducts an extensive survey of all fifty states in America. Based on a review of data on financial health, standard of living and government services by state we determine how well each state is managed. For the first time, North Dakota is the best run. California is the worst run for the second year in a row...

50. California
> Debt per capita: $4,008 (18th highest)
> Budget deficit: 20.7% (17th largest)
> Unemployment: 11.7% (2nd highest)
> Median household income: $57,287 (10th highest)
> Pct. below poverty line: 16.6% (18th highest)

California is 24/7 Wall St.’s “Worst Run State” for the second year in a row. Due to high levels of debt, the state’s S&P credit rating is the worst of all states, while its Moody’s credit rating is the second-worst. Much of California’s fiscal woes involve the economic downturn. Home prices plunged by 33.6% between 2006 and 2011, worse than all states except for three. The state’s foreclosure rate and unemployment rate were the third- and second-highest in the country, respectively. But efforts to get finances on track are moving forward. State voters passed a ballot initiative to raise sales taxes as well as income taxes for people who make at least $250,000 a year. While median income is the 10th-highest in the country, the state also has one of the highest tax burdens on income. According to the Tax Foundation, the state also has the third-worst business tax climate in the country.

Read the whole article here:

How did your state fair?

12-01-2012, 08:11 PM
What? I am very surprised and disappointed! (Sarcasm)

Love the state, hate the political and financial bullshit.

12-01-2012, 08:27 PM
I think we could do better.

13. Texas
> Debt per capita: $1,679 (6th lowest)
> Budget deficit: 20.9% (16th largest)
> Unemployment: 7.9% (tied-23rd lowest)
> Median household income: $49,392 (25th highest)
> Pct. below poverty line: 18.5% (11th highest)
Texas’ economy grew by 3.3% in 2011, an increase larger than all but three other states. Among the main drivers for the growth is the oil boom. Texas was the largest crude oil producer in the nation last year with 27% of the nation’s total refinery capacity. It has also been able to grow its economy partially through exports, including petroleum products and chemicals, which totaled $250 billion in 2011, or $9,732 per capita — the second-most in the nation behind Louisiana. Outside of energy, the state also effectively manages its finances, owing just $1,679 per capita in fiscal 2010, less than all but a handful of states. Texas imposes low taxes — and no income taxes — on both individuals and businesses. The state has one of the most business-friendly tax climates, and it had one of the lowest tax burdens in the nation in 2010.

12-01-2012, 08:40 PM
Not at all surprised. :idontknow:

12-01-2012, 09:24 PM
Hey neighbor! We're right up there/down there (?) with Cali.:naw:

47. Arizona
> Debt per capita: $2,188 (12th lowest)
> Budget deficit: 39.0% (3rd largest)
> Unemployment: 9.5% (tied-13th highest)
> Median household income: $46,709 (21st lowest)
> Pct. below poverty line: 19.0% (tied-8th highest)

Between 2006 and 2011, the value of homes in Arizona tumbled by 35%, more than every state except for Nevada. The state also had the nation’s second-highest foreclosure rate in 2011, with one in every 24 homes in foreclosure. In the aftermath of the financial crisis, Arizona had some of the nation’s largest budget shortfalls. In fiscal 2010, the state had a shortfall of $5.1 billion, equal to 65% of its general fund. In fiscal 2011, Arizona’s budget deficit was 39.0% of its general fund, the third-highest in the nation. In the recent state elections, residents voted on several measures intended to shore up the state’s finances. Voters rejected the continuation of a sales tax hike, while approving the restructuring of the state’s property tax assessment system.

12-02-2012, 02:54 AM
27. North Carolina
> Debt per capita: $1,983 (9th lowest)
> Budget deficit: 30.6% (7th largest)
> Unemployment: 10.5% (tied-6th highest)
> Median household income: $43,916 (12th lowest)
> Pct. below poverty line: 17.9% (13th highest)

In recent years, North Carolina has had a mixed track record. In fiscal 2010, the state had one of the nation’s lowest debts per capita, and 96% of employees’ pension plans were funded — the second-highest percentage in the nation. But in fiscal 2011, North Carolina’s budget shortfall reached nearly one-third of the 2011 budget, higher than most states. The state has struggled with especially high unemployment rates, which at 10.5% in 2011 is tied for the sixth-highest in the nation. Despite these problems, North Carolina maintains perfect credit ratings from both Moody’s and S&P. Additionally, Site Selection, a magazine covering corporate real estate strategy, ranked North Carolina’s business climate as the nation’s best.

Doesn't make much sense. Nobody seems to want to work in my state. This years election cleared out most Democrats from office on the state level. Lets see if the Republicans care enough to get the state in order. I doubt it. No real reason to separate the parties anymore. Nobody seems to want to make the necessary changes.

12-02-2012, 03:09 AM
Not a surprise at all and its gonna get worse... :naw:

12-02-2012, 05:49 AM
4. Utah

Thinkstock> Debt per capita: $2,356 (15th lowest)
> Budget deficit: 14.7% (25th largest)
> Unemployment: 6.7% (tied-11th lowest)
> Median household income: $55,869 (14th highest)
> Pct. below poverty line: 13.5% (tied-17th lowest)

In fiscal 2011, Utah had a budget deficit of $700 million, equal to 14.7% of the state’s GDP. This debt-to-GDP ratio is worse than half the states in the U.S. Despite these problems, Utah has committed to reducing expenses in place of raising taxes or increasing debt. The state has also limited its borrowing. Its total debt was just under $6.5 billion in fiscal 2010, or $2,356 per capita — less than most states — and 40.4% of 2010 tax revenue. Both Moody’s and S&P gave Utah their highest credit ratings because of the state’s strong fiscal management. Moody’s commented that Utah has a “tradition of conservative fiscal management; rebuilding of budgetary reserves after their use in the recession; [and] a closely managed debt portfolio.”

12-02-2012, 02:55 PM
29. Colorado
> Debt per capita: $3,335 (24th lowest)
> Budget deficit: 25.1% (13th largest)
> Unemployment: 8.3% (23rd highest)
> Median household income: $55,387 (15th highest)
> Pct. below poverty line: 13.5% (tied-17th lowest)

Colorado’s finances were not well-managed in recent years. In fiscal 2010, the state’s ratio of debt-to-revenues and the percentage of pension liabilities funded were worse than most states. Few states spent less of their fiscal 2010 budget on public welfare than Colorado’s 18.4%. In fiscal 2011, the state’s budget shortfall equaled one-quarter of its budget, among the nation’s higher rates. Still, according to Governor John Hickenlooper, “The overwhelming approval of Colorado’s most recent budget indicates the state is a place where people get work done, and they get it done collaboratively and pragmatically.” Colorado’s economy faces several major challenges. Homeowners are struggling — the state had one of the nation’s highest foreclosure rates — and the state was one of the nation’s weakest exporters, at just $1,433 in exports per capita.

What I figured, right in the middle

12-05-2012, 03:16 AM
Have you ever been to Wyoming, Nebraska, and North Dakota? I haven't checked but they are all sparsely populated "wild" states. Less people = easier to run. IMO... They are cool to visit but wouldn't want to live there.

12-05-2012, 04:48 AM
I think i'll have a :beer:

12-05-2012, 06:25 AM
I think i'll have a :beer:

Or maybe two!