Study Shows Tennessee’s Debt Ratio To Be Lowest In The Nation

Tuesday, July 23, 2013

One of the country’s top bond rating agencies analyzed debt ratios in all 50 states and concluded that Tennessee’s ratio is the lowest. The study, conducted by New York-based Fitch Ratings, uses a metric that is calculated by combining the state’s net tax-supported debt and unfunded pension liabilities then measuring them against the state’s personal income level.

  Tennessee’s ratio of debt and pension liabilities to personal income was 1.8 percent. No other state had a ratio below 2.2 percent and four states had ratios above 20 percent.

 

Fitch plans to use the debt ratios as a factor in evaluating states’ credit ratings. Favorable ratings from Fitch and the other major rating agencies can translate to lower interest rates when the state borrows money, resulting in savings for taxpayers.

 

Fitch released a similar report last year, in which Tennessee also had the lowest debt ratio.

 

“There’s a simple reason why our state’s debt rate is so low – we borrow a small amount of money relative to the size of our government and we repay it ­ quickly,” Comptroller Justin P. Wilson said. “That’s a credit to our state legislators, who have managed our finances very wisely. They have helped keep the burden that future generations of Tennesseans will have to repay low.”

 

“Legislators also deserve credit for adequately funding our state pension plan,” Treasurer David H. Lillard, Jr. added. “Independent actuaries determine how much money we need to put into the pension plan each year to meet all of our obligations. Unlike some other states, our legislators have a history of following the actuarial recommendations. Also, the team that manages the pension fund’s money has done an excellent job of maximizing investment returns during difficult economic times.”


Nektur Marketing Opens In Chattanooga

Nektur Marketing in opening in Chattanooga with a focus on helping businesses grow. Carlos Pielago said, "Aligning your brand with the customers searching for your product or services  is a growing challenge for today’s business owner. Nektur was formed to help you meet that challenge by providing practical online marketing solutions to grow your business. "We not only ... (click for more)

Decosimo’s Brian Joyce Earns Certification As Common Security Framework Practitioner

Decosimo announced that Brian Joyce has earned the designation of certified common security framework practitioner from the Health Information Trust Alliance. As the director of Information Technology and Security for Decosimo,  Mr. Joyce oversees all aspects of the firm’s IT needs, including planning, design and implementation of network systems. He is also responsible ... (click for more)

City Set To Move Ahead On Study For Light Rail System; But Some Council Members Skeptical

City officials are set to move ahead in applying for a grant to study setting up a light rail system in Chattanooga, though some City Council members are skeptical. Blythe Bailey, city transportation director, said it might cost $20 million to set up a system that would use the Missionary Ridge Tunnel to go from downtown to the Chattanooga Airport as well as the Enterprise South ... (click for more)

Funeral Arrangements Set For Renee Card Monroe, Killed Monday In ATV Accident

Funeral arrangements have been set for Renee Card Monroe, 60, who was killed, along with her two grandchildren, Reagan and Jaxson Cohen, in an ATV accident on Monday when their ATV toppled into a pond. A lifelong resident of Chattanooga, Ms. Monroe was an active member of Eastwood Baptist Church where she helped lead a small Bible study group. Ms. Monroe was an entrepreneur ... (click for more)

UAW Is Dropping Appeal Because Of Opposition

Let's tell the truth here: the UAW attempted infiltration of the Nissan plant in Smyrna, Tenn. a couple of years back and lost. They appealed to the NLRB three times and each time the vote went against the UAW more and more.   When you consider the local political opposition, citizenry and worker opposition, sentiment toward the UAW is even more staggering in Chattanooga ... (click for more)

Roy Exum: Clemson Prayer And Much More

Clemson’s football program, which has won 11 games in each of the past two years and was ranked 8 th in the nation after whipping Ohio State in this year’s Orange Bowl, has just been “blind-sided.” The Freedom from Religion Foundation claims Coach Dabo Sweeney and his staff are doing far too much “to promote Christianity to their student athletes.” Clemson promptly roared back ... (click for more)