Primaried State Representative Sanchez and State Senate President Spilka
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– News covered by Quincy Quarry News with commentary added.

 

Massachusetts’ fiscal condition ranks forty-seventh out of fifty states.

 

The Commonwealth of Massachusetts’ fiscal condition is one of the worst in the country, according to a new ranking by the Mercatus Center at George Mason University

 

The ranking is based on data from fiscal 2016 and a look at trends over the prefacing 10 years. 

 

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Up in flames …
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The ranking process factors such as cash solvency, budget shortfalls, debt, long-term outlook, unfunded pension liabilities, the size of reserves and how much extra money is available to increase services.

 

One of the measures where Massachusetts scores badly is on whether or not it has enough money to cover its short-term bills.  

 

Not good at all.

 

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The study also found that Massachusetts ranks among the worst in whether it has enough money on hand to cushion the state from fiscal shocks or long-term risks.

 

The only states to rank lower than Massachusetts were New Jersey, Connecticut and all but bankrupt Illinois.

 

Again, not good at all.

 

Near bottom of the heap not good.

 

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“A market correction …”
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The Meractus report came out the same day as the Boston Globe reported that two bond rating agencies, Moody’s Analytics and S&P Global, both confirmed that Massachusetts still does not have enough money set aside to weather the next recession, despite efforts by state lawmakers and the Baker administration in recent years to grow the state’s rainy day fund.

 

On the bright side, solid arguments can be made that the City of Quincy’s finances are in worse shape.

Source: Report: Massachusetts’ fiscal condition ranks 47th

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