State budgets overall are still below prerecession levels, long-term liabilities have, on average, increased over time, and underfunded pension liabilities remain an ongoing problem. However, for those at the bottom, there's good news: The study concludes the fiscal problems of all states are not "insurmountable." The Mercatus Center is a free-market oriented think tank, whose board includes Charles Koch, former executive VP of Koch Industries Richard Fink, president of the Charles Koch Foundation Brian Hooks, and Edwin Meese, who served as attorney general in the Reagan administration. Check out the gallery above for the 12 states in the worst fiscal shape, according to the Mercatus Center. --- Related on ThinkAdvisor:
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