Kentucky is unable to meets its ongoing financial obligations. Kentucky is ranked 47th out of 50 in 2017 for its fiscal health. In addition, bond rating agencies continue to downgrade Kentucky's credit worthiness. State lawmakers have cut the state budget every biennium since the last recession in 2008. And it's still not enough. Growing Medicaid, corrections and pension costs combined with an unwillingness to reform Kentucky's tax system will, if uncorrected, bankrupt Kentucky. Kentucky's long term fiscal issues must be addressed by cutting wasteful spending, but not by reductions in public investments with positive returns like healthcare, education and infrastructure. At the conclusion of the 2018 Republican-led legislative session, Standard & Poors cut Kentucky's bond rating again citing "poor fiscal management and [the] relative poverty of its citizens."