Economic Charts

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Wednesday, August 18, 2010

FY11 State Budget Shortfalls Update

I decided to break down the debt per adult in each state to do a comparison to see which state is in the worst shape in terms of potential taxes paying adults.  Unemployment was not figured into the graphed results, but in most cases only resulted in adding another 40 to 120 to the figure.  Also, not figured in are persons working, but not collecting a check (hence not paying taxes), this includes volunteers, stay at home spouses taking care of children and etc.  If I could find data on the number employed per state and recalculate based income tax payers, the amount per working adult would increase per state.  This data does not take into account state revenues from sales tax and such either.
Now contrast this with the total budget gap per state.  Again, Oregon data not included as they are on a 2 year budget cycle and I didn't have an accurate breakdown over a year.
Notice how Illinois and New Jersey are the largest in both graphs.  This could spell trouble for those states as their ability to pay FY11 only's budget gap may be too much per working taxpayer.

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