Truth in Accounting ranks Tennessee fifth most Fiscally Responsible State

by Rod Williams, Oct. 11, 2024- While states must balance their budget, that does not mean they must be fiscally responsible. One can have debt and yet a balanced budget. Also, many states do not include legal financial obligations in their balance sheet. Most notably, many states fail to count the burden of state pension plan obligations in their debt category. Also, there are various mechanisms states can use to avoid a full and accurate accounting of their assets and liabilities. 

The State of Tennessee is more fiscally responsible than most other states. Recently Truth in Accounted released their annual Financial State of the States report and Tennessee earned a "B", was designated a "sunshine state," and ranked fifth best of the fifty states. 

Here is the segment that reported on Tennessee's finances.

 

Here is the list of the top five and worst five fiscally responsible states. 

To view the full report, follow this link. 

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