Photo: 401(K) 2012 (Flickr)
National researchers examined state finances across the country to see whether states really balanced their books, after all the dust of the fiscal year had settled. The resulting study shows Indiana has maintained an honestly healthy fiscal balance for years, including during the 2008 recession.
The project, from The Pew Charitable Trusts, looks at state fiscal balance. It’s an intentionally broad comparison between the amount of money states made – mostly through taxes and federal grants – and the amount they spent.
Indiana experienced a tumultuous few years surrounding the 2008 recession, but outside of 2010, the state has maintained an overall surplus ever since.
Project researcher Matt McKillop says they wanted to look beyond state’s budgets, to provide a fuller picture of states’ financial activities.
“It really provides a fresh perspective to policymakers on the fiscal condition of the state,” McKillop says.
McKillop studied data on all 50 states from fiscal year 2002 to fiscal 2015. Indiana ranks 23rd in the country for overall fiscal balance over that time.