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24/7 Wall St.: The Best- and Worst-Run States in America

Worst-Run States

3. Illinois
Debt per capita: $4,790 (11th highest)
Budget deficit: 40.2% (2nd largest)
Unemployment: 9.8% (tied-10th highest)
Median household income: $53,234 (18th highest)
Pct. below poverty line: 15.0% (25th highest)

Although many states have budget issues, Illinois’ faces among the biggest problems. In 2010, the state’s budget shortfall was more than 40% of its general fund, the second-highest of any state. Both S&P and Moody’s gave Illinois credit ratings that were the second-worst of all states. In addition, the state only funded 45% of its pension liability in 2010, the lowest percentage of any state. Governor Patrick Quinn has made the now-$85 billion pension gap a top priority for the new legislative session beginning in January.

(iStock)

More From 24/7 Wall St.:
Interactive Tool of All 50 States
States with the Most Unemployment Insurance Losses
The 12 Companies Paying Americans the Least



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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