Think tank: Pa. fiscally worse off than all but five other states
A report from the conservative-leaning Mercatus Center ranks Pennsylvania 45th in the country in terms of fiscal condition.
The study, in its fourth year, ranks states based on factors like debt, unfunded pensions and health care benefits using information from their audited financial records.
The report notes that Pennsylvania ranks 47th in the country in terms of the amount of cash available to cover short-term bills, 38th for its ability to cover fiscal year spending using current revenues and 36th for its capability to provide a cushion against fiscal shocks or long-term risks.
The Keystone State also ranks 21st for its amount of "fiscal slack" available to increase taxes without harming the economy and 26th for its ratio of unfunded benefits and pension liabilities compared to personal income.
Pennsylvania actually moved up one spot from 2016, when it took the 46th position.
Florida ranked highest for fiscal health 2017, while New Jersey ranked last.
The Mercatus Center at George Mason University ranks among the country's most prominent think tanks. It markets itself as a "university source for market-oriented ideas" and is funded through donors, including ones associated with Koch Industries.