The New Jersey Capitol is pictured along the banks of the Delaware River in Trenton. A new analysis put New Jersey at the top of the list of states without enough funds to cover all government costs and debt obligations. (Photo by Dana DiFilippo/New Jersey Monitor)

Half of American states do not have enough funds to pay their bills, according to a new analysis released Thursday.

The nonprofit Truth in Accounting, which advocates for more transparency in public finance, released its Financial State of the States report. It concluded that 25 states were unable to cover all their financial obligations at the end of fiscal year 2024, which for most states ended June 30.

While most states mandate balanced budgets, the report says elected officials often use workarounds by excluding exclude c

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