2. Illinois

24/7 Wall Street: 15 Worst-Run States in America

State debt per capita: $4,424 (13th highest)
Pct. without health insurance: 13.8 percent (23rd lowest)
Pct. below poverty line: 13.1 percent (25th lowest)
Unemployment: 10 percent (10th highest)

Illinois has fallen from 43rd last year to the overall second-worst run state in the country. The state performs poorly in most categories, but is worst when it comes to its credit rating. Illinois has a credit rating of A+, the second worst given to any state, behind only California. The state has been on credit watch since 2008 because of budget shortfalls and legal challenges against then-governor Rod Blagojevich.

(AP Photo/Seth Perlman)

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15 Worst-Run Sta... How well-run are America’s 50 states? The answer depends a lot on where you live.

For the second year, 24/7 Wall St. has reviewed data on financial health, standard of living, and government services by state to determine how well each state is managed. Based on this data, 24/7 Wall St. has ranked America's 50 states from best- to worst-run.

We've taken a closer look at the top 15 worst-run states in the country. Read on to see if your state is among them.

(AP Photo/Eric Risberg, file)

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15. Alabama State debt per capita: $1,738 (7th lowest)
Pct. without health insurance: 14.6 percent (tied for 24th highest)
Pct. below poverty line: 17.4 percent (7th highest)
Unemployment: 9.8 percent (12th highest)

Alabama only has a AA credit rating, but it maintains one of the lowest debts per capita in the country, at just $1,738 per person. Also, foreclosures are near the average. Otherwise, the state performs among the worst in the country in nearly every considered metric. The state has the fifth-lowest median household income in the country, as well as a poverty rate of 17.4 percent — the seventh-highest in the country.

(AP Photo/Dave Martin)

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14. New Jersey State debt per capita: $6,551 (6th highest)
Pct. without health insurance: 13.2 percent (21st lowest)
Pct. below poverty line: 9.5 percent (4th lowest)
Unemployment: 9.2 percent (15th highest)

Despite having the second highest median household in the country, New Jersey performs poorly in a number of areas. Most notably, the state has the sixth highest state debt per capita. Its credit rating was also downgraded from AA to AA- in February 2011 due to concerns over its massive retirement obligations.

(AP Photo/Mike Derer)

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13. Mississippi State debt per capita: $2,107 (12th lowest)
Pct. without health insurance: 18.2 percent (9th highest)
Pct. below poverty line: 21.8 percent (the highest)
Unemployment: 10.6 percent (tied for 5th highest)

Mississippi has improved six slots from last year and is now out of the bottom 10. The state spends the 11th most in the country on public welfare, yet it remains the poorest in the country. Residents’ median income was just over $36,000 in 2010, with more than one in five living below the poverty line. Both of these statistics are the worst in the U.S. On the other hand, foreclosures in October were the fifth lowest in the country. Also, violent crime has dropped significantly in the state over the past year, from 304.6 incidents per capita in 2009 to 269.7 in 2010.

(AP Photo/Rogelio Solis)

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12. West Virgini... State debt per capita: $3,578 (22nd highest)
Pct. without health insurance: 14.6 percent (tied for 24th highest)
Pct. below poverty line: 17.6 percent (6th highest)
Unemployment: 8.2 percent (24th highest)

West Virginia has the sixth highest percentage of people living below the poverty line in the country. It also has the eighth lowest percentage of adults with a high school diploma and the second lowest median household income of $38,218. The state also collects far more in revenue compared to other states, while it spends about an average amount.

(AP Photo/Jeff Gentner)

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11. Florida State debt per capita: $2,104 (11th lowest)
Pct. without health insurance: 21.3 percent (3rd highest)
Pct. below poverty line: 15.0 percent (16th highest)
Unemployment: 10.6 percent (tied for 5th highest)

Florida was hit hard by the housing crisis. Home values declined the third most-in the country between 2006 and 2010. In October, one in every 423 homes was foreclosed upon. The state spends very little relative to its budget, and so it maintains a low debt per capita and a AAA credit rating. However, its lack of expenditure on public welfare has not helped the state’s poor, unemployed and uninsured citizens. The state had the sixth highest unemployment rate in the country in September. Also, 21.3 percent of Florida’s population in 2010 was without health insurance, the third-highest rate in the country.

(AP Photo/Melissa Nelson)

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10. New Mexico State debt per capita: $4,004 (16th highest)
Pct. without health insurance: 19.6 percent (6th highest)
Pct. below poverty line: 18.7 percent (12th highest)
Unemployment: 6.6 percent (11th lowest)
New Mexico has a relatively low unemployment rate of 6.6 percent compared with the national average of 9.1 percent. This is down from 8.6 percent one year ago. Other statistics are not as promising. At 18.7 percent, the state has the second highest poverty rate in the country. Worst still, almost 20 percent of New Mexicans do not have health insurance. The state also has the highest rate of violent crime in the country.

(AP Photo/Susan Montoya Bryan)

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9. Louisiana State debt per capita: $3,914 (17th highest)
Pct. without health insurance: 17.8 percent (10th highest)
Pct. below poverty line: 17.8 percent (5th highest)
Unemployment: 6.9 percent (13th lowest)

Louisiana remains in our bottom 10 again this year, although it has improved since last year, primarily because of decreases in unemployment and violent crime rate. In all, however, the state ranks poorly in most of the metrics we considered. Louisiana has the fifth-highest poverty rate in the country, the 10th-highest percentage of residents without health insurance coverage and the fifth lowest percentage of adults with a high school diploma.

(AP Photo/Dave Martin)

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8. Rhode Island State debt per capita: $8,716 (3rd highest)
Pct. without health insurance: 12.2 percent (16th lowest)
Pct. below poverty line: 12.8 percent (tied for 21st lowest)
Unemployment: 10.5 percent (7th highest)

Rhode Island has many positive attributes, including low violent crime rate and a relatively low poverty rate. However, the state’s spending is exceptionally high, and it has accumulated $8,716 in debt per capita. Nearly 20 percent of expenditures are for public education, yet compared with other states it has the 10th lowest percentage of adults who have graduated from high school.

(AP Photo/Robert Button)

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7. Kentucky State debt per capita: $3,107 (23rd lowest)
Pct. without health insurance: 15.3 percent (20th highest)
Pct. below poverty line: 18.2 percent (4th highest)
Unemployment: 9.7 percent (13th highest)

Last year, 24/7 Wall St. named Kentucky the worst-run state in the country. The state saw slight improvements in the percentage of its population with high school diplomas and poverty rate. Violent crime dropped significantly — now the 10th-lowest rate in the country, compared to the 17th-lowest last year. Despite these improvements, Kentucky remains one of the poorest states in the country, ranking among the five worst for median income and poverty rate. It is also one of just four states to be awarded an unfavorable AA- credit rating, the third worst score awarded to any state.

(AP Photo/ Darron Cummings)

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6. South Carolin... State debt per capita: $3,379 (24th highest)
Pct. without health insurance: 17.5 percent (13th highest)
Pct. below poverty line: 17.1 percent (8th highest)
Unemployment: 11 percent (4th highest)

Fiscally speaking, South Carolina is relatively sound. It takes in the 27th most in revenue per capita and spends the 24th most in total expenditures per capita. Its state debt per capita is slightly below average. However, the state has the eighth highest poverty rate and the fourth highest unemployment rate. It also has the fifth highest rate of violent crime, with 597.7 crime committed per 100,000 people. This is actually an improvement from last year when the state’s violent crime rate was 731 per 100,000 — the worst in the country.

(AP Photo/Lou Krasky)

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5. Nevada State debt per capita: $1,690 (6th lowest)
Pct. without health insurance: 22.6 percent (2nd highest)
Pct. below poverty line: 13.0 percent (24th lowest)
Unemployment: 13.4 percent (the highest)

Nevada has dropped five places in our rankings. This drop is due primarily to its credit downgrade this year from AA+ to AA. Surprisingly, the state has one of the lowest debts per capita in the country, at just $1,690 per person. However, it has other financial woes that make it a long-term risk. Nevada properties declined 44.5 percent in value between 2006 and 2010, the worst decline in the country. In October alone, one in every 180 homes was foreclosed upon, easily the worst rate in the country. The state also has the second lowest percentage of residents covered by health insurance and the highest unemployment rate in the country.

(AP Photo/Joe Cavaretta)

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4. Arizona State debt per capita: $1,882 (9th lowest)
Pct. without health insurance: 16.9 percent (16th highest)
Pct. below poverty line: 16.3 percent (tied for 13th highest)
Unemployment: 9.1 percent (18th highest)

Arizona’s housing market was one of the worst hit in the country during the housing crisis. Home values have dropped 28.6 percent since 2006, the fourth worst rate in the country. In October 2011, one in every 259 housing units were foreclosed upon, which was the third worst rate that month in the U.S. Arizona also has one of the lowest credit scores in the country after its downgrade to AA- in 2009.

(AP Photo/Matt York)

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3. Michigan State debt per capita: $2,963 (21st lowest)
Pct. without health insurance: 12.4 percent(18th lowest)
Pct. below poverty line: 15.7 percent (15th highest)
Unemployment: 11.1 percent (3rd highest)

Michigan has arguably suffered more than any state in post-industrial America. The state is one of just four with a credit rating of AA-, although its debt per capita is actually below average. The state ranks among the worst in the country for violent crime, unemployment, foreclosures and home price decline.

(AP Photo/Carlos Osorio)

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2. Illinois State debt per capita: $4,424 (13th highest)
Pct. without health insurance: 13.8 percent (23rd lowest)
Pct. below poverty line: 13.1 percent (25th lowest)
Unemployment: 10 percent (10th highest)

Illinois has fallen from 43rd last year to the overall second-worst run state in the country. The state performs poorly in most categories, but is worst when it comes to its credit rating. Illinois has a credit rating of A+, the second worst given to any state, behind only California. The state has been on credit watch since 2008 because of budget shortfalls and legal challenges against then-governor Rod Blagojevich.

(AP Photo/Seth Perlman)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
1. California State debt per capita: $3,660 (21st highest)
Pct. without health insurance: 18.5 percent (8th highest)
Pct. below poverty line: 14.5 percent (tied for 21st highest)
Unemployment: 11.9 percent (2nd highest)

California has moved down one slot on from last year to earn the title of the worst-run state in the country. In the fiscal year 2009, the state spent $430 billion, roughly 14 percent of all the money spent by states in that year. Compared to its revenue, the state spent too much — California had the 10th lowest revenue per person, and spent the 15th most per person. California is the only state in the country to be rated A-, the lowest rating ever given to a state by SnP. Despite the huge amount the state spends each year, conditions remain poor. California has the second-lowest percentage of adults with a high school diploma in the country, the second-highest foreclosure rate and is tied for the second highest unemployment rate in the U.S.

(AP Photo/Eric Risberg, file)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
More From 24/7 W... Where does your state fall on the list? Click here to find out.