Tuesday, January 5, 2010

Beyond California - States In Peril

Eye opening report from the PEW Center and you can read the full report here.

At least 9 states beyond California face fiscal peril. Combined, The 10 states account for more than a third of America’s population1 and economic output.

The same pressures that drove the Golden State toward fiscal disaster are wreaking havoc in a number of states, with potentially damaging consequences for the entire country.

This examination by the Pew Center on the States looks closely at nine states, in addition to California, that are particularly affected by the recession.

The Pew Center on the States compiled its list by scoring all 50 states according to six factors that contributed substantially to California’s ongoing fiscal woes: (1) high foreclosure rates; (2) increasing joblessness; (3) loss of state revenues; (4) the relative size of budget gaps; (5) legal obstacles to balanced budgets - specifically, a supermajority requirement for some or all tax increases or budget
bills; and (6) poor money-management practices.

Take some time and check it out - it's a very interesting read.