[Robert137]

Here is a link to a recent Pew release which compares state debt and unfunded retirement obligations as a % of state personal income in 2013. It shows each of the components separately.

Fiscal 50: State Trends and Analysis

[JayCT]

Originally Posted by mlassoff

So here's something interesting. I'll post the source when I receive it again....

When you look at state debt-- No doubt, CT is in trouble.

However, if you look at State Debt + County Debt + Municipal Debt, we're actually somewhere in the middle of the pack when it comes to debt.

No to be little the problem, but, it seems likely to me our problem is concentrated at the state level where, in many other states, the problem is worse, but simply distributed across layers of government.

A reporter showed me this last Wednesday night, and I am waiting for him to get back to me on the source.

This is what I have been saying and what I emailed the authors of one of the studies that have been talked about here. Because Connecticut has no county level of government, the state must assume obligations that otherwise would be handled on a county level. When comparing strictly state-to-state comparisons, we are of course going to be higher than say New York where there are multiple layers of government to spread spending across. That said, the state pension issue is still not good and needs to be addressed quickly. Jay

[BobNJ1960]

Originally Posted by mlassoff

Yep.. You're right. I just heard back and it DOESN'T include unfunded pension obligations. And, I agree, this is the root of our fiscal problems.

Game changer, and a mistake for them NOT to include them, as they are the item which will cause states to be insolvent..

[BobNJ1960]

Originally Posted by Robert137

Here is a link to a recent Pew release which compares state debt and unfunded retirement obligations as a % of state personal income in 2013. It shows each of the components separately.

Fiscal 50: State Trends and Analysis

Great post.

[Henry10]

Originally Posted by Robert137

Here is a link to a recent Pew release which compares state debt and unfunded retirement obligations as a % of state personal income in 2013. It shows each of the components separately.

Fiscal 50: State Trends and Analysis

That study is over 3 years old.

Secondly, I am not sure what that chart tells us. It would be more meaningful if the Chart compared Unfunded Liabilities to the overall State's revenue, no simply personal income.

For example it doesn't matter how low the personal income is in Alaska. That State can afford excellent pensions because primary source of revenue is oil production tax.

Same for CT. In the past, Ct's revenue could easily afford the pensions, and until 1984, I believe, when the state realized "oh ****, we need to save for these funds"...

[Robert137]

Originally Posted by Henry10

That study is over 3 years old.

Secondly, I am not sure what that chart tells us. It would be more meaningful if the Chart compared Unfunded Liabilities to the overall State's revenue, no simply personal income.

For example it doesn't matter how low the personal income is in Alaska. That State can afford excellent pensions because primary source of revenue is oil production tax.

Same for CT. In the past, Ct's revenue could easily afford the pensions, and until 1984, I believe, when the state realized "oh ****, we need to save for these funds"...

The report is dated May 16 of this year. I suppose there is a lag in collecting and analyzing data for these kinds of 50-state studies. In any event, the percentages will not move very much year-to-year.

Pew considers state personal income to be a "measure of their economic resources". That makes sense to me as any repayment of these unfunded liabilities will have to come from these resources of the state, not existing revenue. It is a more refined approach than the common "debt per capita" figures that are often published ---although it is interesting--and depressing--to look at these unfunded amounts as a percentage of current state revenues. It's about 330% for Connecticut.

[BPt111]

Connecticut leads among "top economic performers" in a detailed economic analysis of the 50 U.S. states and District of Columbia, "2016's States with the Best & Worst Economies," according to WalletHub.

The Nutmeg state ranks No. 8 for its performance in the "innovation potential" category, while the top seven performers are Massachusetts, California, Washington, Utah, Colorado, New Hampshire, and Maryland, reported WalletHub.

Overall, Connecticut ranked 14, an outcome determined by adding the scores assigned to economic activity, economic health, and innovation potential categories, said the report. The analysis looked at these areas in compiling the report.


https://wallethub.com/edu/states-wit...onomies/21697/

http://fairfield.dailyvoice.com/busi...ential/664733/

[JayCT]

Originally Posted by BPt111

Connecticut leads among "top economic performers" in a detailed economic analysis of the 50 U.S. states and District of Columbia, "2016's States with the Best & Worst Economies," according to WalletHub.

The Nutmeg state ranks No. 8 for its performance in the "innovation potential" category, while the top seven performers are Massachusetts, California, Washington, Utah, Colorado, New Hampshire, and Maryland, reported WalletHub.

Overall, Connecticut ranked 14, an outcome determined by adding the scores assigned to economic activity, economic health, and innovation potential categories, said the report. The analysis looked at these areas in compiling the report.


https://wallethub.com/edu/states-wit...onomies/21697/

WalletHub Ranks Connecticut 14th For Economy, Cites Innovation Potential | Fairfield Daily Voice

It can't be. Connecticut has a horrible economy . Jay

[kidyankee764]

Originally Posted by BPt111

Connecticut leads among "top economic performers" in a detailed economic analysis of the 50 U.S. states and District of Columbia, "2016's States with the Best & Worst Economies," according to WalletHub.

The Nutmeg state ranks No. 8 for its performance in the "innovation potential" category, while the top seven performers are Massachusetts, California, Washington, Utah, Colorado, New Hampshire, and Maryland, reported WalletHub.

Overall, Connecticut ranked 14, an outcome determined by adding the scores assigned to economic activity, economic health, and innovation potential categories, said the report. The analysis looked at these areas in compiling the report.


https://wallethub.com/edu/states-wit...onomies/21697/

WalletHub Ranks Connecticut 14th For Economy, Cites Innovation Potential | Fairfield Daily Voice

This is great news and is very promising. I have confidence that we're finally getting on the right track. It's unfortunate we had to learn the hard way.

[JayCT]

Originally Posted by kidyankee764

This is great news and is very promising. I have confidence that we're finally getting on the right track. It's unfortunate we had to learn the hard way.

I agree. Jay