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

Worst-Run States

2. Rhode Island
Debt per capita: $9,018 (3rd highest)
Budget deficit: 13.4% (28th largest)
Unemployment: 11.3% (3rd highest)
Median household income: $53,636 (17th highest)
Pct. below poverty line: 14.7% (24th lowest)

Rhode Island’s finances were a mess in fiscal 2010. The state had $9.5 billion in unpaid debts, which came to 107.2% of that year’s revenues.At more than $9,000 per person, it’s one of the largest debt burdens in the country. The state also funded less than half of its pension obligations, worse than all states except for Illinois. In 2010, in a spectacular example of fiscal mismanagement, the state guaranteed a $75 million loan to a video game company, which has since defaulted. With one of the nation’s slowest growth rates and the third-highest unemployment rate in the U.S., at 11.3%, Rhode Island’s economy performed poorly overall.

(AP Photo/ Stew Milne)

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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