The ten most financially sound states in the country are all heavily Republican according to a study performed by George Mason University’s Mercatus research Center. Notably missing from that lineup, however, is the Lone Star State — coming in at 16th overall.
The report used five different key terms for evaluating overall fiscal health: cash solvency, budget solvency, long-run solvency, service-level solvency, and trust fund solvency. Overall, the state performs on par or above average. However, in the cash solvency department (the state’s ability to cover short-term costs), Texas comes in at a concerning 33rd place — with somewhere between 1.29 and 2.15 times the cash needed to cover short-term liabilities.
For long-term liabilities, Texas ranks just barely above average — coming in at 18th place.
Such truths present an inconvenient reality for Texas’ elected officials who love nothing more than to boast of their fiscal stewardship when making cases for their own reelection. As is often the case, the devil is in the details — not the hollow platitudes and conservative rhetoric ceremoniously echoed on every campaign trail.
