Interesting Chart on the Financial Condition of States.

TOK2000

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May 3, 2010
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I have a lot of friends that live in Illinois and they can't wait to get out because of the ****ed up politics and the resultant financial situation. A lot of it of course surrounds unfunded or underfunded public employee retirement and health plans that keep getting kicked down the road. It's not just Illinois though it's a lot of states.

Texas is ranked #22 in financial health. The top ranked states though are head scratchers to me. Neb is #1, So.Dakota is #2, Tenn is 3rd, Fla is 4th and the Land grabbers north of the Red River are #5. What do they have in common?

State Fiscal Rankings
 

Iz of Texas

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Mar 26, 2012
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Austin
I have a friend who is a firefighter in southern Illinois. Apparently his pension is funded/guaranteed(?) at the county (or maybe the municipality) rather than state level so he says he's good to go and retiring in 5 years at 55. I guess I don't understand what the difference is.
 

J Galt

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Feb 9, 2012
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Lake Highlands, Dallas
I have a friend who is a firefighter in southern Illinois. Apparently his pension is funded/guaranteed(?) at the county (or maybe the municipality) rather than state level so he says he's good to go and retiring in 5 years at 55. I guess I don't understand what the difference is.
A pension is guaranteed by the employer. If you’re a federal employee, you’re backed by the federal government. State employees by the state. Local employees by their local jurisdiction. Corporate employees by the company. It just means your friend is dependent on the funding status of his local jurisdictions’ policies.

Public pensioners tend to see their $hit roll uphill, meaning if a municipality is struggling to meet their obligations, some state level politician will promise a bailout to secure the votes. If multiple states become unable to fulfill their obligations, as many are forecasting and is implied by the chart of the OP, you can bet a federal candidate will run on a bailout campaign.
 
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