Every year, 24/7 Wall St. determine how well each state is managed based on financial health, standard of living and government services by state.

For the first time, North Dakota is the best run. California is the worst run for the second year in a row.

I got this story from 247wallst.com

Best-Run States:

1. North Dakota--Debt per capita: $3,282 (22nd lowest)--Budget deficit: None--Unemployment: 3.5% (the lowest)--Median household income: $51,704 (20th highest)--For the first time, North Dakota ranks as the best run state in the country. In recent years, North Dakota's oil boom has transformed its economy. Last year, crude oil production went up 35%. As of August, it was the second-largest oil producer in the country. The oil and gas boom brought jobs to North Dakota, which had the nation's lowest unemployment rate in 2011.

2. Wyoming--Debt per capita: $2,694 (18th lowest)--Budget deficit: 10.3% (32nd largest)--Unemployment: 6.0% (7th lowest)--Median household income: $56,322 (13th highest)--Wyoming isn't the best-run state in the nation this year. The drop is due to the state's contracting economy. As a whole, the state is a model of good management and a prospering population. The state is efficient at managing its debt and also has a tax structure that is the nation's most-favorable for businesses. The state has also experienced an energy boom in recent years. As of last year, Wyoming's poverty, home foreclosure, and unemployment rates were all among the lowest in the nation.

3. Nebraska--Debt per capita: $1,279 (2nd lowest)--Budget deficit: 9.7% (34th largest)--Unemployment: 4.4% (2nd lowest)--Median household income: $50,296 (22nd highest)--Last year, Nebraska had the second-lowest unemployment rate in the nation. Nebraska's economy is strong relative to the rest of the U.S. The state is one of the leading agricultural producers and also had the second-lowest debt per capita in the country.

4. Utah--Debt per capita: $2,356 (15th lowest)--Budget deficit: 14.7% (25th largest)--Unemployment: 6.7% (tied-11th lowest)--Median household income: $55,869 (14th highest)--In 2011, Utah had a budget deficit of $700 million. But even with these problems, Utah has committed to reducing expenses in place of raising taxes or increasing debt. The state has also limited its borrowing.

5. Iowa--Debt per capita: $1,690 (7th lowest)--Budget deficit: 20.3% (18th largest)--Unemployment: 5.9% (6th lowest)--Median household income: $49,427 (24th highest)--Iowa is one of the nation's top agricultural centers. The farm economy has contributed to growth, with farm earnings rising and land values skyrocketing. Iowa's unemployment rate fell from 6.3% in 2010 to just 5.9% in 2011, the nation's sixth-lowest rate.

Worst-Run States:

50. California--Debt per capita: $4,008 (18th highest)--Budget deficit: 20.7% (17th largest)--Unemployment: 11.7% (2nd highest)--Median household income: $57,287 (10th highest)--California is the "Worst Run State" for the second year in a row, thanks to high levels of debt, the country's second-worst credit rating and a bad economy. Home prices fell by 33% between 2006 and 2011, worse than all states except for three. The state's foreclosure rate and unemployment rate were the third- and second-highest in the country. But efforts to get finances on track are moving forward. State voters passed a ballot initiative to raise sales taxes as well as income taxes for people who make at least $250,000 a year. Median income is the 10th-highest in the country, but the state also has one of the highest tax burdens on income. The state also has the third-worst business tax climate in the country.

49. Rhode Island--Debt per capita: $9,018 (3rd highest)--Budget deficit: 13.4% (28th largest)--Unemployment: 11.3% (3rd highest)--Median household income: $53,636 (17th highest)--Rhode Island's finances were a mess in 2010. The state had $9.5 billion in unpaid debts. At more than $9,000 per person, it's one of the largest debt burdens in the country. In 2010, the state guaranteed a $75 million loan to a video game company, which then went bankrupt.

48. Illinois--Debt per capita: $4,790 (11th highest)--Budget deficit: 40.2% (2nd largest)

--Unemployment: 9.8% (tied-10th highest)--Median household income: $53,234 (18th highest)--Illinois' faces among the biggest problems of all states. In 2010, the state's budget shortfall was more than 40% of its general fund, the second-highest of any state. Illinois' credit ratings were the second-worst of all states.

47. Arizona--Debt per capita: $2,188 (12th lowest)--Budget deficit: 39.0% (3rd largest)--Unemployment: 9.5% (tied-13th highest)--Median household income: $46,709 (21st lowest)--Between 2006 and 2011, the value of homes in Arizona fell by 35%, more than every state except for Nevada. The state also had the nation's second-highest foreclosure rate in 2011, with one in every 24 homes in foreclosure.

46. New Jersey--Debt per capita: $6,944 (5th highest)--Budget deficit: 38.2% (4th largest)--Unemployment: 9.3% (14th highest)--Median household income: $67,458 (3rd highest)--The state's median household income and poverty rate were both third best in the nation. On the other hand, the state's tax burden on its residents was second highest in the U.S. in 2010. Residents paid 12% of their income in state and local taxes, higher than any other state except New York.

I originally read about this on Yahoo.com