The Pew Charitable Trusts conducted an analysis of all 50 states’ rainy day funds and found that Pennsylvania’s is among the worst in the country.
Pennsylvania’s reserves are at its lowest point since the end of the recession in 2009.
There are six states, including Pennsylvania, who have reserves that will not last a week. The five others currently do not have any rainy day funds.
Pennsylvania’s reserves are not likely to be refilled in the near future, with the ongoing stalemate between Governor Wolf, and the GOP controlled House and Senate about how to fund the spending plan already on the books.
The lack of reserves has been cited as a reason for Pennsylvania’s recent credit downgrades.