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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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To: Mind-numbed Robot

“I am sure others can add to my list of why no one should consider moving to Texas.”

Oh, yes. I had the misfortune of travelling there years ago. I was like stepping back in time.

Texas is just a hive of uneducated gun-toting rednecks who eat burgers topped with double gravy rations. They even have drive thrus for truckers.

That’s not to mention the size of their critters especially the rattlesnakes and razorbacks. Texas is just awful I must say. Whatever you do, don’t make the mistake I did. Nosiree. There’s no place like home.


41 posted on 11/13/2009 6:14:15 PM PST by BenKenobi
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To: Raider Sam
Anyone else notice that they seem to blame these states financial instability on a lack of income tax?

Alaska
New Hampshire
Tennessee
Florida
S. Dakota
Washington
Nevada
Texas
Wyoming

I only see Florida on both lists?

42 posted on 11/13/2009 10:53:46 PM PST by This_far (Mandatory insurance! I thought it was about health care?)
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To: This_far

Texas is on that list? Are you kidding?


43 posted on 11/13/2009 10:56:59 PM PST by Rocky (OBAMA: Succeeding where bin Laden failed.)
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To: This_far

In the article, it shows the primary or secondary reason for trouble in Florida and Nevada as being a lack of income tax. Then, in the next 2 slides it says Oregon’s income tax is useless because of unemployment and it recommends Michigan not raise income taxes, because it wont help.

The people who wrote this are either hypocrites or they dont pay attention. 2 states are on the verge of collapse because they dont have an income tax, while the next 2 states income tax is killing the economy.


44 posted on 11/13/2009 11:00:23 PM PST by Raider Sam (They're on our left, right, front, and back. They aint gettin away this time!)
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To: Rocky
Texas is on that list? Are you kidding?

Mine is of the 9 states without an income tax. (is that correct about Texas?)

45 posted on 11/13/2009 11:13:25 PM PST by This_far (Mandatory insurance! I thought it was about health care?)
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To: Raider Sam
The people who wrote this are either hypocrites or they dont pay attention.

Ah, gotcha, sorry for not reading the article.

Wonder how they would classify states such as NH, which have neither an income nor a sales tax?

Think there are too many variables to crank it down to a simple solution/cause.

46 posted on 11/13/2009 11:19:06 PM PST by This_far (Mandatory insurance! I thought it was about health care?)
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To: This_far

Texas doesn’t have an income tax. That’s correct.


47 posted on 11/14/2009 1:36:36 AM PST by Rocky (OBAMA: Succeeding where bin Laden failed.)
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To: This_far

IF thats the case, theyd probably classify as poor government engineering that doesnt bring in enough revenue, but Id classify it as one of the last free states around.

Im sure they would find some way to blame it on something that is a minor fiscal problem, the same way our pres wants to “freeze” spending in domestic agencies the year after he spends around 3 trillion in handouts.

Every thing is smoke and mirrors anymore.

Btw, I was talking about the article writer being hypocrites, just to make it clear.


48 posted on 11/14/2009 6:02:35 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: BenKenobi
It’s a bad thing to have McCain as your senior senator?

Only if you're a conservative, legal American.

Otherwise, it's just peachy.


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

49 posted on 11/14/2009 8:57:18 AM PST by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
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To: Raider Sam
Btw, I was talking about the article writer being hypocrites, just to make it clear.

It was clear, nicely done.

50 posted on 11/14/2009 10:45:58 AM PST by This_far (Mandatory insurance! I thought it was about health care?)
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To: BenKenobi

Thanks for adding to the list of reasons not to move to Texas.

You reminded me about the food. That TexMex stuff will eat your intestines. Chicken fried steaks the size of a Frisbee with biscuits and a quart of cream gravy are an invitation to early death and obesity. There are just too many others to mention but, trust me, you don’t want any!


51 posted on 11/14/2009 12:03:11 PM PST by Mind-numbed Robot (Not all that needs to be done needs to be done by the government)
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