New Report–WA State is A Financial “Sinkhole”

Since 2002, Truth in Accounting has been filing financial assessments of each of the 50 states, their group of accountants and financial experts have rated WA State 31st worst in the nation.

  Truth in Accounting rates WA state with a "C" but ranked very low

Truth in Accounting says on their website their goal is to demand  governments compile and make accessible records showing their use of tax dollars and financial responsibility.

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Each year, they release their Financial State of the States report, and this year WA comes in near the bottom.

TIA compiles its data and presents the report  based on how much of a tax burden is placed on citizens. They are labeled either a Taxpayer Burden or Surplus. Surplus states are in the black, while burdens are how much each taxpayer would owe to balance the ledger.

States also receive letter grades from A to F.  There are five states with an "A" grade, five got "F", most received between a B and a D.  While WA state got a C, it ranked 31st out of 50 states.

TIA reports WA state needs $5.3 billion to pay its bills, and in order to reach that goal it would require $1.800 from each taxpayer, so it runs a deficit, or a Tax Burden.

WA was ranked as one of 25 "sinkhole" states, who are unable to pay their bills with their current budgets.  By contrast, Idaho and even Oregon were ranked as "sunshine" states with budget surplus funding.

Idaho's surplus is $7,300 per taxpayer, while Oregon's was rated at $6,100 and it received a B, like Idaho.

The five worst  sinkhole states were California* Massachusetts Illinois* Connecticut New Jersey, who was dead last.  The five best  were North Dakota Alaska Wyoming Utah Tennessee.