Truth in Accounting has released their review of all 50 states’ finances, discovering 39 states did not have enough money to pay all of their bills. And this is based on fiscal year 2019 data, before the pandemic was declared.
TOP 10 SINKHOLE STATES
- New Jersey
- Illinois
- Connecticut
- Hawaii
- Massachusetts
- Delaware
- Kentucky
- California
- Vermont
- New York
Illinois, the only state to use the Federal Reserve’s new Municipal Liquidity Fund (“lender of last resort”), is again set to borrow over a billion dollars if a new U.S. stimulus package is not passed.
