COLUMBUS– Senator Bob Peterson (R–Washington Court House) today praised a new report showing Ohio is ranked seventh out of 50 states for its fiscal condition.
 
“The report that came out today recognizes the significant efforts we have made to balance budget and bring fiscal responsibility to Ohio”, said Peterson. “I'm proud of the progress we've made, but there is more to do, and I'm committed to continuing to work towards job growth and developing Ohio's economy.”
 
The study was conducted by George Mason University’s Mercatus Center and was based on data from fiscal year 2012. The researchers took several factors into consideration including each state’s long-term solvency.
 
In 2011, Ohio faced a projected $8 billion budget shortfall and the state’s rainy day fund had sunk to a balance of just 89 cents. In that same year, Senator Peterson supported the budget proposal that balanced the shortfall without raising taxes. Today, the rainy day fund contains nearly $1.5 billion.
 
In recent years, Ohio has been recognized for achieving several other notable benchmarks, including having the state’s credit outlook upgraded by Moody’s Ratings. Ohio has also been ranked as having one of the most improved business climates in the nation. In one report, for example, Ohio improved 13 points in just one year.