By Justin Carlson, includes “Illinois was one of only eight states to see spending outpace its revenues from 2005-2019, leaving it fiscally ill-prepared to deal with the tumultuous COVID-19 pandemic, according to new data from Pew Charitable Trusts … coming in just ahead of similarly troubled New Jersey … According to financial watchdog Truth in Accounting, each Illinois taxpayer now owes $57,000 just to pay off the state’s bills. … Rising debt and large spending increases to match that debt show Illinois has a spending problem and not a revenue problem. …”
TIA's newest Financial State of the Cities came out on February 15, 2024. This comprehensive analysis of the most populous U.S. cities includes the most up-to-date city finance and pension data, trends across the cities, and key findings.
For 2022 the U.S. Census Bureau reported the number of local governments in all the states. As to be expected the smallest states had the fewest local governments. However, the states with the most local government units were not necessarily the largest.
For students graduating soon, it might be worth looking at the median income for people with a bachelor's degree only in different cities. For information about median earnings for men and women by education in the 75 largest cities check out our interactive database at Data.Z.org.
Our proprietary methodology analyzes government financial reports to develop a comprehensive, concise view of state and municipal finances, including all assets as well as pension and retirement health obligations not completely disclosed in financial reports. Learn how we can help you discover the truth about your government's fiscal condition.
Download our comprehensive reports on state and municipal finances–including "The Financial State of the States"–for free. Former U.S. Comptroller General David Walker has said, "While other organizations have compared the states' unfunded retirement liabilities, only this report has determined the overall financial condition of every state."
CLICK HERE TO DOWNLOAD OUR LATEST FSOS REPORT (SEPTEMBER 2021)