Illinois Ranked Worst in America for How it Handles Its Money

It can be a challenge to manage your finances these days and that's true not just for individuals, but state governments, too. Illinois has just been dinged for being in the worst shape in the United States for how it handles its money and I can identify.

To be clear, this is NOT my ranking of Illinois. Blame this one on US News and World Report. I normally ignore internet lists these days, but this one is very prestigious and they use a lot of data and science with their rankings of the best and worst states in America. I am personally a fan of Illinois and have either worked in or lived in the Land of Lincoln on and off for decades.

How did they determine which states were good or bad with fiscal stability?

US News and World Report said their study "encompasses metrics reflecting both the short-term and long-term fiscal stability of a state". They also added "a state of financial health and balance, where a government's revenue and expenditures are managed in a sustainable manner". With all of their numbers crunched, Illinois ended up dead last in America at #50 for long-term fiscal stability. The short-term fiscal stability ranking wasn't much better with Illinois being ranked #41 in that category.

I don't get into politics and don't care what party (or parties) are to blame for a state's fiscal woes. All I know is that if you spend more money than you have, you end up in trouble. That's a reality that all of us face and the state of Illinois is no different.