Red States Feeling Shutdown Impact More: Wallet Hub
States tending to vote for Republican candidates in presidential elections are marginally more impacted by the ongoing government shutdown than are states which tend to vote for Democratic candidates, a new analysis says.
Personal finance site WalletHub.com said its analysis showed that 24.3% of red states are feeling impact from the shutdown compared to 27.5% of blue states (on a scale where the lower number equals the greater impact.)
The five states that are impacted the most by the shutdown, according to WalletHub, are Virginia, Alaska, Alabama, District of Columbia and Maine. The five least impacted are Wisconsin, Minnesota, New York, Indiana and Iowa.
The site also noted that small business owners from the Dakotas, Colorado, Alaska and Michigan looking for funding will be hurt most as loans from the Small Business Administration slow to a halt.
Those states have displayed the highest small business borrowing rates in recent years, the site said.
In addition, the site said state officials in West Virginia, Maine, Arkansas, Alabama and Vermont may have the most seniors to worry about in a prolonged shutdown, as their states have the most senior citizens per capita.
Home purchasers in Hawaii, Florida, Arizona, Maryland, and Louisiana – the five states in which real estate accounts for the greatest portion of gross state product – will face slower or possibly blocked closings as federal agency verifications of income and employment slow to a halt, the WalletHub site said.
Students in Georgia, Mississippi, Arkansas, South Carolina and Louisiana would also have a lot to lose as those states boasted the greatest number of student loan applications per capita during the third quarter of 2013.
“Interestingly enough, while sick children and disappointed World War II veterans have only been able to prompt piecemeal funding proposals, the anger of key constituencies may just prove to be the impetus needed to break the congressional stalemate,” the site wrote, “particularly since Republican-leaning states stand to be hit disproportionately hard by a prolonged shutdown.”