Pexels.com
Pexels.com
Michigan would need $55 billion to pay all of its bills, including public employers’ pension benefits, according to a new ranking of the states’ fiscal health by Truth in Accounting (TIA).
Michigan ranked 38th among the 50 states on fiscal health, according to the analysis by TIA, which is a Chicago-based nonprofit that reports on fiscal data from state and local governments.
The amount of the state’s shortfall in funds to pay off its bills amounts to $17,000 per taxpayer, the study found.
The TIA gave the state a financial grade of “D.”
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2019 State Rankings on Fiscal Health
| Rank | State | Money Needed / Available to Pay Bills (in Billions) | Per-Taxpayer Debt / Surplus | Financial Grade |
| 1 | Alaska | $19.7 | $74,200 | A |
| 2 | North Dakota | $8.5 | $30,700 | A |
| 3 | Wyoming | $4 | $20,800 | A |
| 4 | Utah | $4.9 | $5,300 | B |
| 5 | Idaho | $1.5 | $2,900 | B |
| 6 | Tennessee | $5.8 | $2,800 | B |
| 7 | South Dakota | $0.85 | $2,800 | B |
| 8 | Nebraska | $1.3 | $2,000 | B |
| 9 | Oregon | $2.2 | $1,600 | B |
| 10 | Iowa | $0.78 | $700 | B |
| 11 | Minnesota | -$0.45 | -$200 | C |
| 12 | Virginia | -$3.5 | -$1,200 | C |
| 13 | Oklahoma | -$1.3 | -$1,200 | C |
| 14 | North Carolina | -$4 | -$1,300 | C |
| 15 | Indiana | -$3.6 | -$1,700 | C |
| 16 | Florida | -$12.1 | -$1,800 | C |
| 17 | Montana | -$0.75 | -$2,100 | C |
| 18 | Arkansas | -$1.8 | -$2,300 | C |
| 19 | Arizona | -$5.2 | -$2,500 | C |
| 20 | Nevada | -$3.1 | -$3,100 | C |
| 21 | Wisconsin | -$6.7 | -$3,200 | C |
| 22 | Georgia | -$10.2 | -$3,500 | C |
| 23 | Missouri | -$8.3 | -$4,300 | C |
| 24 | New Hampshire | -$2.7 | -$5,000 | D |
| 25 | Ohio | -$26.6 | -$6,000 | D |
| 26 | Kansas | -$6.5 | -$7,000 | D |
| 27 | Colorado | -$14.5 | -$7,200 | D |
| 28 | Washington | -$20 | -$7,400 | D |
| 29 | Maine | -$3.5 | -$7,400 | D |
| 30 | West Virginia | -$4.3 | -$8,300 | D |
| 31 | Mississippi | -$7.4 | -$10,000 | D |
| 32 | Alabama | -$15.9 | -$12,000 | D |
| 33 | Texas | -$98.7 | -$12,100 | D |
| 34 | New Mexico | -$7.7 | -$13,300 | D |
| 35 | Rhode Island | -$5.4 | -$13,900 | D |
| 36 | South Carolina | -$21.8 | -$14,500 | D |
| 37 | Maryland | -$33.5 | -$15,500 | D |
| 38 | Michigan | -$55 | -$17,000 | D |
| 39 | Pennsylvania | -$75 | -$17,100 | D |
| 40 | Louisiana | -$22 | -$17,700 | D |
| 41 | Vermont | -$4.5 | -$19,000 | D |
| 42 | New York | -$136.6 | -$20,500 | F |
| 43 | California | -$275 | -$21,800 | F |
| 44 | Kentucky | -$33.4 | -$25,700 | F |
| 45 | Delaware | -$9.1 | -$27,100 | F |
| 46 | Hawaii | -$15.4 | -$31,200 | F |
| 47 | Massachusetts | -$82 | -$31,200 | F |
| 48 | Connecticut | -$67.8 | -$51,800 | F |
| 49 | Illinois | -$223.9 | -$52,600 | F |
| 50 | New Jersey | -$208.8 | -$65,100 | F |
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