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FRANKFORT, Ky. (WKRC) – Kentucky is one of a handful of states least prepared to weather a downturn in the economy, according to a new report released by economic researcher Moody’s Analytics.
It’s likely caused by underfunded state pension plans that are demanding more money from the state.
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The researchers say 28 states have enough cash on hand to survive a moderate recession without resorting to spending cuts or tax hikes. Twelve other states could get by without taking drastic measures.
The researcher said it’s not forecasting a recession for 2020.
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