Wyoming and the Rainy Day Fund

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Wyoming also improved from its fifth place ranking in 2007 with a rate of nearly 13 percent to a third place ranking this year with a rate of 53.13 percent. (Graphic courtesy the Tax Foundation)
Wyoming also improved from its fifth place ranking in 2007 with a rate of nearly 13 percent to a third place ranking this year with a rate of 53.13 percent. (Graphic courtesy the Tax Foundation)

According to 2013 statistics just released by the Tax Foundation, Wyoming has a rainy day fund that equals just over 53 percent of its annual general spending. That's behind Alaska, which has grown its rainy day fund to a whopping 211 percent of annual general spending.

States deep in fiscal crisis like California and New Jersey use less than a single percentage of rainy day funds to support general spending.

The Tax Foundation says states that spent much more than the balance of their rainy day funds to pay for annual general spending prior to 2007 were the least prepared for economic hardship.

Wyoming also improved from its fifth place ranking in 2007 with a rate of nearly 13 percent to a third place ranking this year with a rate of 53.13 percent.

First Northern Bank
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