If a state has a growing economy, improving fund balance and declining debt, it stands to reason more people are working, enjoying the fruits of their labors and giving their families a better way of life.
For Tennessee, check, check and check.
The state learned Thursday it is being given the top bond rating from all three major bond rating agencies, Standard & Poor’s, Moody’s and Fitch. In fact, it is one of only 11 states to enjoy that distinction and now enjoys a better bond rating than that of the United States government.
That is because, according to the Standard & Poor’s analysis, “we believe the state could maintain better credit characteristics than the U.S. government in a stressed scenario.”
Take that, Beltway spendthrifts.