No Grade Inflation Here

The Cato Institute released its Fiscal Policy Report Card on America's Governors: 2006, the eighth biennial fiscal policy report card on the nation's governors. The report card's grading is based on 23 objective measures of fiscal performance. Governors who have cut taxes and spending the most receive the highest grades. Those who have increased spending and taxes the most receive the lowest grades.

Only one governor receives an A this year — Republican Matt Blunt of Missouri. Nine governors received a grade of F: Montana, Alabama, Washington, Arkansas, Nevada, Delaware, North Carolina, Arizona, Louisiana. Overall the grades are: 1 A, 6Bs, 17Cs, 13Ds, and 9Fs. Cato is a tough grader.

See the list of grades here.