The Ten States Most Likely To Default

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     Business Insider lists ten states likely to default, based on the proprietary Fitch CDS-IR model. All have unfunded pension liabilities, excessive welfare expenditures, and high labor costs.
   
     State Rankings in Descending Order – Number 1 is most likely to default
   
     Rank                   State                   CPD
   
     1                           Illinois                 41.2%
     2                          California             39.3%
     3                          New York            35.3%
     4                          New Jersey         34.7%
     5                          Michigan              33.8%
     6                          Nevada                 32.0%
     7                          Massachusetts      22.0%
     8                          Ohio                        20.9%
     9                          Texas                      15.0%
     10                       Virginia                  12.3%
   
     CPD = Cumulative Probability of Default

Ronald R. Cooke
The Cultural Economist
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