About Me

My photo
Nazareth, Pa., United States

Friday, December 04, 2015

24/7 Wall Street Rates Pa. as 41st Worst State in the Nation

It's hard to believe that none states are worse off than Pennsylvania, but that's what 24/7 Wall Street concludes in its latest round-up of the best-run states in the nation. North Dakota is rated the best-run state, while New Mexico is at the bottom of the barrel. Here's the Keystone State assessment:
41. Pennsylvania
Debt per capita: $3,677 (20th highest)
Credit rating (S and P/Moody’s): AA-/Aa3
Unemployment rate: 5.1% (24th highest)
Median household income: $53,234 (22nd highest)
Poverty rate: 13.6% (20th lowest)

Pennsylvania is currently in the middle of a budget stalemate, as Democratic Governor Tom Wolf is in political gridlock with the state’s Republican legislature to reach an agreement on an annual budget. State officials missed the budget deadline, and over the four months of the proceedings, the budgetless state spent more than $27 billion — a considerable proportion of annual funds typically available to the state. Such spending in the state is unsustainable. Pennsylvania was one of seven states last fiscal year reporting no rainy day funds whatsoever. For Moody’s, these budget difficulties display poor fiscal management. The rating agency downgraded Pennsylvania’s credit rating this year to Aa3, one of the lowest of any state.


Anonymous said...

Interesting site. Couldn't help but notice that NJ is #44. Chris Christie wants to be president with a record this pathetic and even was endorsed by a rag in NH over #28 (Ohio-Kasich) and #29 (FL-Bush).

"Only one state, Illinois, has a worse credit rating from Moody’s and S&P than New Jersey. Despite collecting the seventh highest total tax revenue in the country, only a handful of states have more debt than New Jersey. Despite clear signs of poor fiscal management, New Jersey residents are relatively prosperous."

Anonymous said...

North Dakota number one? Go figure. This is what happens when the govt CANT get their hands on private land or impeade companies from extracting energy and other resources.
North Dakota has the lowest unemployment rates over the last 5 years or so.
North Dakota is successful in spite of the feds , not bc of the feds.
Stunning we still have rules of private property being followed by the current admin. They have tried to shoot every angle possible / EPA, to slow down production and this state keeps chugging along. Do a little research in wages in the area. Walmart register staff arte making 17 buck an hour or more.
The state has literally handed back cash to the tax payers or had little or no tax increases.


Double and triple taxing the energy companies, will not work. Wake up Barack Wolf.

Don't worry Barack Wolf, a new source of revenue coming very soon. You will get your dope tax. the state is so bankrupt , so this is the best source of revenue, the hacks can come up with. Wow, so progressive in their thinking.