In a country where insolvent states increasingly compete for Federal funds, Utah is bucking the trend. And in the process, it’s showing the type of leadership this nation will need more of to deal with its national economic plight.
A recent slew of new legislation has been passed – collectively known as the Financial Ready Utah (FRU) initiative – to assess the state’s greatest financial vulnerabilities and to identify the most promising programs for addressing them at the state, community, and household levels. As a result of its earthquake-prone geology, Utah has developed a robust statewide disaster-response system. The FRU initiative prudently asks: Shouldn’t we also have a financial-earthquake preparedness program in case of another 2008-style (or worse) economic shock, which the math indicates is more than likely?