Is our state in a fiscal death spiral?

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Forbes staffer William Baldwin has a list of 11 states in a "fiscal death spiral" because the number of takers exceeds the number of makers and because of high levels of debt and unfunded pension liabilities. For those 11 states, Baldwin says, if you have to live there, fine, but don't buy a house and don't buy municipal bonds in those states.

New Mexico has the worst taker to maker ratio, followed by Mississippi, California, Alabama, Maine, New York, South Carolina, Kentucky, Illinois, Hawaii, and Ohio. Here's the complete list. Note that Federal employees are excluded from the total, as state spending is the issue.

UPDATE: I removed the video as Forbes seems to have changed it to start automatically.

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This page contains a single entry by Michael Bates published on November 26, 2012 10:55 PM.

Johnny Cash reads the handwriting on the wall was the previous entry in this blog.

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