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New study shows future fiscal crisis for Maryland

January 16th, 2014 by WCBC Radio

WBAL reports that a new study out of George Mason University puts Maryland near the bottom of the rankings for the state government's long-term financial health.  

One one hand Maryland boasts a AAA bond rating.  

And Maryland is at the top of the millionaire's mountain with nearly 8 percent of residents with assets of at least a million dollars.

But, the Mercatus Center at George Mason University in Fairfax, Va., puts Maryland at 44 out of the 50 states for the ability to meet financial obligations.

The study rates each state according to several measures of solvency including the cash the state can easily access to pay its bills in the near term, reflecting the state government's liquidity.

The study weighed such factors as the cost of funding pension plans for state and local governments and the rising cost of health care.

Number one is Alaska for financial stability.

Dead last is New Jersey.

The ratings are arrived at using financial numbers from 2012.

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