Financial State of the States 2018

How did your state fare in this year's ranking? Read the full report here.

New OPEB database now available!

Truth in Accounting has launched a new database detailing the financial condition of other post-employment benefit plans in all 50 states.

What happens when government finances are mismanaged?

Watch our three-part video series on the story of Jordan, an Illinois state employee, and how his life is affected by the state's fiscal mismanagement.

US Published National Debt

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The Truth

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Each Taxpayer's Share: $689,000

 
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  • Connecticut needs to defuse its retirement debt bomb

    January 15, 2019
    Hartford Courant

    “Connecticut and several of its largest cities have become non-competitive, so businesses and people are voting with their feet. United Van Lines just rated Connecticut the second-highest percentage outbound state in 2018, exceeded only by New Jersey. … Connecticut needs to join the vast majority of states in setting retirement benefits by statute rather than through collective bargaining contracts.”

  • Republican governors prioritize SNAP work requirements

    January 14, 2019
    Watchdog

    Prior to the new rules implemented by the Trump administration to strengthen work requirements for the Supplemental Nutrition Assistance Program (SNAP), some Republican governor-led states had already begun implementing restrictions and eliminated the practice of submitting “geographic area waivers.”

  • GAO: State budget outlooks are grim

    January 9, 2019
    American Spectator

    The U.S. Government Accountability Office (GAO) predicts a stormy fiscal future for state and local governments, with expenses expected to outpace revenues during the next five decades.

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  • STATE AND LOCAL

    Public kept in the dark about city pension performance

    January 15, 2019
    Atlanta Journal Constitution

    “… Lackluster results from some money managers was one reason the City Council  in December 2017 voted to consolidate oversight of the general employees, police and fire retirement funds under a single board. … The city also said the move would improve transparency, so the public could be confident that the funds were being safeguarded. So far, the new board has failed to deliver on either count …” 

  • FEDERAL

    The Trump tax law has big problems. Here’s one big reason why

    January 15, 2019
    The Center for Public Integrity

    “… Why it needs fixing is most vividly illuminated by contrasting it with another massive piece of tax legislation, the Reagan-era Tax Reform Act of 1986. … But in terms of how the bills were developed, deliberated and drafted by Congress — not to mention their substance — the bills could not be less alike. And therein lies an illuminating — some would say frightening — story. To wit, the 1986 bill took two years to create, with lawmakers holding dozens and dozens of hearings and taking testimony from thousands of witnesses.”

  • INTERNATIONAL

    Seeing pension costs should be easy

    January 9, 2019
    Top1000funds.com

    Investment regulations for pension schemes in the UK take their lead from the European Union Directive on Institutions for Occupational Retirement Provision. Investments must be made in the “best interests of scheme members and any potential conflict of interest must be resolved in their favour”.

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