Gov. Rhoden Celebrates South Dakota’s Reaffirmed AAA Credit Rating
PIERRE, S.D. – Today, Governor Larry Rhoden celebrated Fitch’s reaffirmation of South Dakota’s AAA credit rating.
“South Dakota’s economy is thriving, and we are receiving national recognition for our fiscal responsibility,” said Governor Larry Rhoden. “We have so much to celebrate, including our 136th consecutive balanced budget. As long as I am Governor, we will remain conservative with the taxpayer dollars of hardworking South Dakotans.”
Fitch highlighted South Dakota’s diverse economy, ample financial flexibility, competitively low long-term liabilities, and impressive employment gains.
“The state’s ‘AAA’ IDR is supported by consistently well-managed fiscal operations, strong reserve balances and a history of maintaining budgetary structural balance,” wrote Fitch.
South Dakota’s rating outlook remains stable. Our fiscal conservatism, commonsense regulatory policies, and record unemployment rates will ensure South Dakota’s economic success continues for generations to come.
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Our economy is thriving? Last year we were one of the leading states in population shrink. We have driven numerous potential businesses out of South Dakota this very legislative session. In what way are we “thriving?”
The last 2 years the state has cut the sales tax rate, reduced its reliance on unclaimed property funds and is now looking to cut property taxes.
Someone needs to do a holistic look at state spending and resources needed to figure out what is the best long term plan.
Could you name the ‘potential businesses’ that were ‘driven out of SD’ THIS legislative session? Thank you!
Why don’t we use that great bond rating and borrow cheap money to build a prison?
I don’t understand why we brag about the rating and then don’t borrow any money.
Invest the incarceration fund into something else other than spending a billion in cash.
South Dakota Searchlight has a commentary by Seth Tupper this week, ostensibly applauding Governor Rhoden’s penchant for doing a “reset” in his time in office that rolls back a lot of the changes Kristi Noem brought forth in her management choices that caused strife and division in the state. It’s a good column about a good and needed effort.