Washington State came in dead last, 50 out of 50, admits The Seattle Times.
If the Seattle Times is publishing this, it must be bad. No doubt the leadership will ignore the red flag from Moody’s and just raise taxes yet again to cover the shortfall!
“On Wednesday, Moody’s, one of the big three credit rating agencies, put the state on notice for this irresponsible fiscal stewardship. With a negative outlook from the agency, Gov. Bob Ferguson and Washington’s legislative leaders have a year to show the agency they can begin to live within their financial means—and if not, the state’s borrowing costs for projects will soar.”
The legislators and Gov. Bob Ferguson must show they can be fiscally responsible. They can’t do it.
It won’t affect the voting habits of most people either. Leftists can’t understand the cause-and-effect relationship between their bad policies and the results.
The Seattle Times Editorial Board
Washington leaders have been warned that their reckless fiscal practices could cost taxpayers billions of dollars in the not-so-distant future.
On Wednesday, Moody’s, one of the big three credit rating agencies, put the state on notice for this irresponsible fiscal stewardship. With a negative outlook from the agency, Gov. Bob Ferguson and Washington’s legislative leaders have a year to show the agency they can begin to live within their financial means — and if not, the state’s borrowing costs for projects will soar.
With the governor’s approval, the Legislature outspent the state’s tax revenues and depleted the state’s rainy-day fund, earning Washington a dubious distinction: no state has a lower percentage of financial reserves. The state is dead last — 50 out of 50.
Since 2024, the Legislature’s Democratic majority has kept spending more money on programs than the growing tax revenues they collect. To rectify that imbalance, budget writers resort to one-time fund transfers, including drawing down the state’s rainy-day account. Today, that fund rests at 8.4% and, according to Washington State Treasurer Mike Pellicciotti’s office, will dwindle to just 1.4% by 2028.
Guaranteed they all voted for them. They only vote for Ds.