NC ranks No. 21 in fiscal solvency
Published June 1, 2016
by Mitch Kokai, The Locker Room, June 1, 2016.
North Carolina ranks just above the middle of the pack among the states — at No. 21 — when it comes to fiscal solvency. That’s according to a new report from the Mercatus Center at George Mason University.
On a cash basis, North Carolina has between 0.93 and 2.09 times the cash needed to cover short-term liabilities. Revenues exceed expenses by 10 percent, producing a surplus of $401 per capita. On a long-run basis, North Carolina has no assets remaining after paying for debts. It also has a low long-term liability ratio, with total liabilities accounting for 19 percent of total assets. Total debt is $8.59 billion. Unfunded pension liabilities are $72.50 billion on a guaranteed-to-be-paid basis, and other postemployment benefits (OPEB) are $25.64 billion. These three liabilities are equal to 28 percent of state personal income.
June 2, 2016 at 12:01 am
Brian Harvill says:
If North Carolina doesn't solve the issues over HB2 and soon, that solvency rating is going to tank pretty fast. Time for North Carolina to come into the 21st century, elect better representatives and stop all of the targeted legislation who's only motive is to punish the LGBT community for having dared demand equal rights and full social inclusion. NOW I am hearing that there may be an issue with America Airlines who's second largest hub is located in North Carolina. If they move out, what impact do you think that will have?
Education, infrastructure, healthcare, housing, jobs are all being adversely affected and still the legislature is being stubborn, not caring how many North Carolinians they harm and all to get their way.