The Washington, D.C.-based nonprofit Pew Center on the States has identified Wisconsin as one of 10 states facing fiscal peril in a report released Wednesday.

The report -- which ranked states based on six factors that the Pew Center blamed for California's budget programs -- gave the Badger State a C+, the 10th worst grade in the nation. States were ranked by change in revenue, size of budget shortfall, change in unemployment rate, foreclosure rate, and the requirement for a supermajority.

Wisconsin was aided by the fact that lawmakers do not need a supermajority to enact tax increases or budget bills. But the state's budget shortfall was well above the national average, resulting in a fiscal climate that, according to the report, is worse than every state except California, Arizona, Rhode Island, Michigan, Oregon, Nevada, Florida, New Jersey and Illinois.

"(T)he recession has hit Wisconsin harder than most state governments, especially when it comes to lost tax revenues and the size of the hole in its budget. On top of that, unemployment is climbing as the state's largest sector -- manufacturing -- sputters," the report says. "Wisconsin's history of budget shortfalls and pattern of borrowing frequently to cover operating expenses, among other measures, made it poorly positioned to weather the most recent severe economic downturn."

See the press release here.

See the full report here.

-- By Andy Szal