The Pew Charitable Trusts has an interesting article on how the states have fared since 2008 with budget surpluses and deficits. As of December 31, 2013, NC is still collecting less revenue than it did in 2008. NC currently has a deficit of $445 million. Pew notes that “‘Recent tax law changes, not economic conditions, are the reason that collections (in North Carolina) are likely to miss the target’ for the remainder of 2014, the National Conference of State Legislatures (NCSL) concluded in a May report.” The link is to the free PDF summary of the NCSL report.
Regardless of whether you feel the budget news is good or bad, I hope you can agree with the news on NC’s S&P rating. NC is one of only seven states that had a AAA S&P rating every year from 2001 through May of 2014. Pew has a nice chart, reproduced below, on the states’ S&P ratings: