Sept. 10, 2018
A recent Pew Research analysis shows that Idaho is one of the most fiscally healthy states in the nation.
Idaho ranks 6th for number of days it could run on state “rainy day” funds, and is one of 26 states whose rainy day fund balances surpass pre-recession levels.
Idaho ranks 10th for number of days it could run on total reserve balances, and is one of only 18 states whose total balances surpass pre-recession levels.
“Republican leadership is paying off well for the people of Idaho,” said state GOP chairman Jonathan Parker.
“Good stewardship of taxpayer dollars means that, like any individual, family or business, our state has set aside enough in savings to prepare for future emergencies or economic downturns. Unlike Democrats who want to spend hundreds of millions more dollars and deplete our reserves, putting taxpayers at risk, Republicans understand the importance of fiscal responsibility.”
Pew Research explained why budget reserves matter:
“States use reserves and balances to manage budgetary uncertainty, deal with revenue forecasting errors, prevent severe spending cuts or tax increases when there are unexpected revenue shortfalls, and cope with unforeseen emergencies. Because reserves and balances are vital to managing unexpected changes and maintaining fiscal health, their levels are tracked closely by bond rating agencies.”
Here are two graphics from Pew Research: