Top 10 fiscally susceptible states in US
Posted on 12. Nov, 2009 by admin in Business
It is known that fiscal pressures pushed California to almost bankruptcy state and the same pressure is pushing several states in US to a financial jeopardy.
According to Pew Center on the United States’ analysis the top 10 fiscally susceptible states include AZ, CA, FL, IL, MI, NV, NJ, OR, RI and WI. But there are other states including GA, CO, KY, NY and HI that are catching up pretty fast as well.
The analysis had been based on many parameters; loss revenue of the respective state, budget gap, foreclosure as well as unemployment rates, poor finance management and the laws in each that govern passage of the respective state’s budget.
The financial peril forced all of these 10 states to increase taxes, lay off state employees and cut services; slowing down recovery of the entire country. Sadly, the 10 states have one-third of US population as well as GDP.
The sooner the states are recovered the better for the country to recover from recession.
