Study gives South Carolina good marks for fiscal health.
A recent study conducted by researchers at the Mercatus Center at George Mason University ranked South Carolina 17th in fiscal health in the nation.
Criteria in the study included unfunded pensions and healthcare benefits, budget balancing and cash solvency.
Alaska was ranked first.
South Carolina posted stronger numbers than the national average for cash on hand to cover short-term bills and net assets as a hedge against long-term obligations. Its ratio of debt-to-state personal income was twice as good as the national average.
"There are troubling signs that many states are still ignoring the risks on their books, mainly in underfunded pensions and healthcare benefits," according to the study. "Even states that appear to be fiscally robust -- perhaps owing to large amounts of cash on hand or revenue streams from natural resources -- must take stock of their long-term fiscal health before making future public policy decisions.”
The study also showed the Palmetto State is handling its finances better than most states.
According to a cost-of-living map recently released by the Tax Foundation, in South Carolina, $100 can buy $110.50 in goods and services relative to the U.S. average.
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