Is Georgia in Financial Peril?
Hello neighbors,
Wondering how Georgia's fiscal is looking lately? Well according to a recent report by the Pew Center, Georgia has not yet reached financial danger. The report included all 50 states and scored them based on factors such as: change in tax revenue from the first quarter of last year to the first quarter of 2009, the size of the state's budget gap for fiscal 2010, unemployment rate change from the second quarter of 2008 to the second quarter of 2009, first quarter foreclosure rate of 2009, and money grade.
Based on Georgia's numbers: tax revenue being down 19.1%, budget gap 23.8%, the rise of unemployment by 3.7 points, foreclosure rate at 1.34%, and the money grade at a B+, Georgia came in at number 21 on the Pew Center's report. This number landed Georgia a spot on a list of states right behind the 10 US states that are in peril. According to the report those 10 states include: Arizona, California, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island, and Wisconsin.