Wednesday, December 16, 2020

Tennessee is the top state for fiscal stability

by Rod Williams - US News and World Repot in its  Dec. 11, 2020 editions ranks Tennessee as the top state for fiscal stability. It’s followed by Florida, South Dakota, North Carolina and Utah to round out the top five.  The study looks at things like government credit rating scores, pension fund liability, budget balancing and liquidly. 

While some states are on the verge of bankruptcy, Tennessee is not. We are the most fiscally sound state in the nation.  Unfortunately, if Democrats get complete control of the federal government we who live in states that managed our finances well will no doubt have to bail out those that did not. 

As a city, Nashville would not rank well in a similar ranking except that most cities of any size are controlled by Democrats also and the majority are mismanaged. So despite Nashville's mismanagement, by comparison Nashville might not rank so terrible. We might be less bad than some other poorly managed Democrat governed cities.  

Nashville does not calculate as a liability its health care benefits to retried employees and our pension liability continues to grow and our response to increased cost for services is to raise taxes rather than control spending and we have allowed our reserve funds to shrink to dangerously low levels.  

Luckily, Nashville's mismanagement does not impact the State's ranking.  The state and the city are different entities. The State is not responsible for the fiscal management of the cities, so as citizens of the state of Tennessee we have good fiscally responsible governance, while as citizens of Nashville we have fiscally irresponsible governance. 

I am proud of the job our Republican-led State is doing.  It matters who governs. 

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