Hey Poem, no surprise that you are uninformed as t
Post# of 65628
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Posted On: 10/29/2018 12:40:00 PM
Hey Poem, no surprise that you are uninformed as to the fiscal/debt status of your 'dependent State'.
You righties make such fools of yourselves when you make assertions of superiority, for yourselves, in ANY matter, particularly fiscal/moral matters.
I'll say it again, IL is not alone in its fiscal problems; but the State would be a lot better off if received dollar for dollar back in federal taxes.....it's 2nd from the bottom in that regard.....instead of seeing its tax contributions redistributed to ingrate States like IN.
You righties make such fools of yourselves when you make assertions of superiority, for yourselves, in ANY matter, particularly fiscal/moral matters.
I'll say it again, IL is not alone in its fiscal problems; but the State would be a lot better off if received dollar for dollar back in federal taxes.....it's 2nd from the bottom in that regard.....instead of seeing its tax contributions redistributed to ingrate States like IN.
Quote:
2017 Financial State of Indiana (Released 9/25/2018)
Indiana owes more than it owns.
Indiana has a -$2,700 Taxpayer Burden.™
Indiana is a Sinkhole State without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
Indiana only has $23 billion of assets available to pay bills totaling $28.8 billion.
Because Indiana doesn't have enough money to pay its bills, it has a $5.7 billion financial hole. To fill it, each Indiana taxpayer would have to send $2,700 to the state.
Indiana's reported net position is inflated by $2 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
The state is still hiding $727.9 million of its retiree health care debt. A new accounting standard will be implemented in the 2018 fiscal year which will require states to report this debt on the balance sheet.
The state's financial report was released 172 days after its fiscal year end, which is considered timely according to the 180 day standard.
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