Forbes: Blue states are worst off financially than red states

[~~whimsy~~]

The five states in the worst financial condition--Illinois, New York, Connecticut, California and New Jersey--are all among the bluest of blue states. The five most fiscally fit states are more of a mix. Three--Utah, Nebraska and Texas--boast Republican majorities and two--New Hampshire and Virginia--skew Democratic.

The financial ranking of the states is part of a recent Forbes report on the Global Debt Bomb. The political affiliation data was compiled in a 2009 poll of 350,000 adults by Gallup Daily.

Forbes' metrics for each state included unfunded pension liabilities, changes in tax revenue, credit ratings, debt as a percentage of Gross State Product, debt per capita, growth expectations for employment and the state economy, net migrations and a "moocher ratio" that compares government employees, pension burdens and Medicaid enrollees to private-sector employment.

Why do Democratic states appear to be struggling more than Republican ones? It comes down to stronger unions and a larger appetite for public programs, according to Kent Redfield, professor emeritus of political studies and public affairs at the University of Illinois' Center for State Policy and Leadership.

http://www.forbes.com/2010/02/25/democratic-states-bad-financial-shape-personal-finance-blue.html

 

[GregCentauro]

Before Andronicus has to do it again...

It has to say: worse off than

Now slap yourself with a shovel!

 

[Will E Worm]

Good. :hatsoff:

Blue states used to be called red states.

The way it should be, because they are Socialist Communist states. :tongue:

New York and California are definite red states.

 

[titsrock]

And yet we don't read stories of people fleeing New York for Nebraska do we? I wonder why that is....

Do we assign corporations any blame in bringing about financial mess for the struggling states? I kinda think Corps had just a little bit of a hand in New York and Cali's ruin....just askin' :dunno:

 

[Will E Worm]

And yet we don't read stories of people fleeing New York for Nebraska do we? I wonder why that is....

That's the liberal rats running away. :tongue:

 

[HELLRAISER]

That's what happens to liberals who make the error of trustomg and listening to NeoCons such as George W. Bush when he told them to go shopping to boost the economy rather then telling them to be fiscally conservative with their money

 

[Hot Mega]

I should think in any situation where anyone and anything which produces more and has a broader economy would correspondingly have larger debts or deficits.

If Trump's personal economy experienced a hiccup...his debt and deficit numbers will naturally be gargantuan in comparison Sam "The Plumber" (for example).

Texas is the outlier but that's understandable since they are awash in oil and energy revenue.

Where's the news??

 

[HELLRAISER]

:Edit I meant to say trusting in my previous post.

Anyway, is it fair to equate and compare states with larger urban populations with that of states with smaller rural populations?

 

[PirateKing]

I think I'd rather be broke than live in states like Nebraska.

 

[Will E Worm]

I think I'd rather be broke than live in states like Nebraska.

You now must move to Nebraska. :tongue:

 

[marquis2]

Seems logical to me that as people vote with their wallets they choose the party which they feel meets their needs better.
Same in the UK , the wealthy south east votes Conservative and the old industrial working class areas further north vote Labour.

 

[Kingfisher]

And I'm surprised that California sucks ass...

 

[CunningStunts]

That's what happens to liberals who make the error of trustomg and listening to NeoCons such as George W. Bush when he told them to go shopping to boost the economy rather then telling them to be fiscally conservative with their money

Actually, all of the states were doing well until last year... has nothing to do with politics, except in "blue" states, they tend to have larger governments and more expenditures, which hurts them more in lean financial times. This isn't rocket science, it's basic economics. :hatsoff:

 

[Trident1]

Heaven help Nebraska if the population of NYC moved there. NYC blows.

 

[CunningStunts]

And I'm surprised that California sucks ass...

Serious question... Why are you surprised?

 

[Britches]

Liberal states doing worse financially than conservative states? Naaaaaaaaah. Can't be!

 

[JacknCoke]

This shouldn't be surprising at all.

 

[HELLRAISER]

Actually, all of the states were doing well until last year... has nothing to do with politics, except in "blue" states, they tend to have larger governments and more expenditures, which hurts them more in lean financial times. This isn't rocket science, it's basic economics. :hatsoff:

Yes, I know these states were doing quite well until the housing crisis. But if I'm not mistaken, these Blue states have more larger urban population centers then the red states which means more competition for employment and less resources to redistsribute.

 

[Friday on my mind]

I would just like to point out that many blue states like mine (NJ) subsidize via our federal taxes many of the red states.For every dollar we pay in taxes we get less than a dollar back while states like mississippi get more than a dollar back.I guess it's right to do or these people would have even worse education systems then they currently do and would end being even more of a drain on the rest of us if we didn't.But lets not start thinking that states like mine are the economic problems in this country.We pay our own way while many of these "red states" are subsidized by us.

 

[titsrock]

Has California ever been fiscally-sound post-Reagan? Prop 13 passed in 1978. That was the end of California.

Historically, the stock market operates better under a Dem president than a Repub president. The market crashed under Dumbya and is up 30% (roughly) under Obama. Is that a fair assessment of the broad economy? :dunno: