NH ranks 33rd for fiscal solvency, report says
January 16. 2014 8:49PM
A report studying the fiscal conditions of states shows the Granite State ranks 33rd for long-term fiscal solvency and 28th for short-term solvency, according to information released by the Mercatus Center, at George Mason University in Fairfax, Va.
The report examined how states are dealing with revenue problems that arose from the fiscal challenges of the last several years.
Overall, New Hampshire ranked 22nd for its overall fiscal condition, the report said. But it ranked third in service-level solvency, which “reflects whether state governments have the resources to provide their residents with an adequate level of services,” the report said.
The report said states will continue to struggle.
“Fiscal simulations by the Government Accountability Office suggest that despite recent gains in tax revenues and pension assets, the long-term outlook for states’ fiscal condition is negative, the report said. “These simulations predict that states will have yearly difficulties balancing revenues and expenditures due, in part, to rising health care costs and the cost of funding state and local pensions.”