Like private banks, a publicly owned bank has the ability to create money in the form of bank credit on its books, and it has access to very low interest rates. But the business model of private banks requires them to take advantage of these low rates to extract as much debt service as the market will bear for the benefit of the bank’s private investors. A public bank can pass low rates on to local residents and businesses. It can also recapture the interest on local government projects, making them substantially cheaper than when funded through the bond market.
The BND’s profits belong to the citizens and are generated without taxation, lowering tax rates.On Oct. 2, 2024, Truth in Accounting’s annual Financial State of the States report rated North Dakota #1 in fiscal health, with a budget surplus per taxpayer of $55,600.
The 15th annual Financial State of the States report compiled by Truth in Accounting and the report shows 27 states did not have enough money to pay their bills.
However, North Dakota finished No. 1 of all 50 states with an “A” grade and Minnesota was ranked 11th with a “B” grade.
The 144-page final report provides a comprehensive analysis of the fiscal health of all 50 states.
Our fifteenth annual Financial State of the States (FSOS) report provides a comprehensive analysis of the fiscal health of all 50 states.
Truth in Accounting has once again created a transparency score for the financial reporting by state governments to encourage the publication of transparent and accurate government financial information.
"In fiscal 2022, 28 states didn’t have enough revenue to pay all of their bills, according to the 14th annual Financial State of the States report, published by the Chicago-based nonprofit Truth in Accounting.
The report provides a comprehensive analysis of the fiscal health of all 50 states based on the latest available data from states’ fiscal year 2022 annual comprehensive financial reports.
New Jersey ranked last for having the worst fiscal health and the greatest taxpayer burden. Not far behind was Connecticut, followed by Illinois, Massachusetts, Hawaii, Kentucky, Delaware, Louisiana, California and Vermont in the bottom ten.
By contrast, 22 states reported surpluses, the majority of which are led by Republican governors."
This year's report found that 31 states did not have enough money to pay all of their bills.
To encourage the publication of transparent and accurate government financial information, Truth in Accounting has created a transparency score for financial reporting by the states.
PRESS RELEASE - FOR IMMEDIATE RELEASE
Truth in Accounting's twelfth annual Financial State of the States report, a nationwide analysis of the most recent state government financial information.
The 2020 Financial State of the States report surveys the fiscal health of the 50 states prior to the coronavirus pandemic. This data is released today by Truth in Accounting (TIA), a think tank that analyzes government financial reporting.
How large could the shortfall in state government general revenues be, amidst the coronavirus and related crises?
The massive downturn in the beleaguered oil market is compounding financial problems for U.S. states and local governments that rely on energy production for revenue and raising concerns for their bond investors, analysts said on Tuesday.
In his column today, Mike Jacobs writes about some intraparty competition in North Dakota's District 8, where longtime lawmaker Jeff Delzer is seeking re-election to the state House but facing a challenge from two other Republicans.
The Office of Management and Budget today released the 2019 Comprehensive Annual Financial Report (CAFR), a document that encompasses the fiscal activity for all of state government
"Heitkamp's talk of deficits is pure speculation and none of it takes into account the economic growth the Trump pro-growth agenda is delivering." - statement on the website Get the Facts ND, June 4, 2018
See the financial condition of Alaska, Connecticut, Delaware, Iowa, Illinois, North Dakota, Utah, Washington and West Virginia.
The justices pressed attorneys on Tuesday about the potential consequences of overturning the court’s 26-year-old ruling.
Before an audience of appreciative retired truck drivers, Sen. Heidi Heitkamp, D-N.D., said Tuesday, April 3, that if their pension funds were allowed to collapse, the ripple effects could “take down our economy.”
Forty-one U.S. states do not have enough money to pay their bills, collectively they have racked up $1.5 trillion in unfunded liabilities.