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News & Politics News & Politics

California named worst-run state in the nation

Posted by on Nov. 29, 2012 at 7:45 PM
  • 21 Replies
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Every year, 24/7 Wall St. conducts an extensive survey of all fifty states in America. Based on a review of data on financial health, standard of living and government services by state we determine how well each state is managed. For the first time, North Dakota is the best run. California is the worst run for the second year in a row.

The successful management of a state is difficult to measure. Factors that affect its finances and population may be the result of decisions made years ago. A state’s difficulties can be caused by poor governance or by external factors, such as extreme weather.

> Debt per capita: $4,008 (18th highest)
> Budget deficit: 20.7% (17th largest)
> Unemployment: 11.7% (2nd highest)
> Median household income: $57,287 (10th highest)
> Pct. below poverty line: 16.6% (18th highest)

California is 24/7 Wall St.’s “Worst Run State” for the second year in a row. Due to high levels of debt, the state’s S&P credit rating is the worst of all states, while its Moody’s credit rating is the second-worst. Much of California’s fiscal woes involve the economic downturn. Home prices plunged by 33.6% between 2006 and 2011, worse than all states except for three. The state’s foreclosure rate and unemployment rate were the third- and second-highest in the country, respectively. But efforts to get finances on track are moving forward. State voters passed a ballot initiative to raise sales taxes as well as income taxes for people who make at least $250,000 a year. While median income is the 10th-highest in the country, the state also has one of the highest tax burdens on income. According to the Tax Foundation, the state also has the third-worst business tax climate in the country.

http://finance.yahoo.com/news/the-best-and-worst-run-states-in-america-150415625.html

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by on Nov. 29, 2012 at 7:45 PM
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Replies (1-10):
mommasaint
by Bronze Member on Nov. 29, 2012 at 8:03 PM

Not that surprising really....my state is the second best run. 

pvtjokerus
by Gold Member on Nov. 29, 2012 at 8:05 PM
4 moms liked this

LIBERAL ZOMBIELAND!  Wahoo!!

DSamuels
by Gold Member on Nov. 29, 2012 at 8:15 PM

Not surprised about Cali, I'm glad it replaced my state of KY as worst run. We've moved up to 37th LOL

We're a red state in federal elections but tend to be blue on the state level. UGH We're also one of the poorest, but we do have some of Appalachia and mining.

Bek22
by on Nov. 30, 2012 at 6:39 AM
1 mom liked this
Not very shocking
Carpy
by Platinum Member on Nov. 30, 2012 at 8:58 AM
4 moms liked this

And Michigan is considering dissolving the city of Detroit.

imamomzilla
by on Nov. 30, 2012 at 9:07 AM
1 mom liked this

 No surprise there....

Ednarooni160
by Eds on Nov. 30, 2012 at 11:54 AM
1 mom liked this

California had "everything" and "anyone"  it needed to be what Obama and his  cronies want today...and now Obama's ahead of all of the states...

jcrew6
by Jenney on Nov. 30, 2012 at 11:56 AM
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All of the wealth in California and those celebs don't pay their fair share.  Tsk tsk. 

itsmesteph11
by on Nov. 30, 2012 at 12:01 PM
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 I find it hard to believe it's only the second year in a row.  I guess you have to take into account it's only considering how the state is run.  Running it into the ground wasn't the goal of every governor.

erika9009
by Silver Member on Nov. 30, 2012 at 12:16 PM
1 mom liked this

I totally concur with these findings!!!!!!!!!!!!


Ask me how the Dems fooled the public into voting for Prop 30 "For the Schools"

____________________________________________________

Erika..

Children are a blessing and are never inconvenient.............

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