For Louisiana residents, its sort of a running joke that our government is the most corrupt and worst run government in the world. Things may not be great as a state or  on a local level...but are we really the worst? Well, according to a new study, our joke is pretty close to reality.

According to a report from 24-7 Wall Street, Louisiana literally has the worst run state government in America. The study looked at 8 years worth of information to come up with this conclusion. The site reviewed economic indicators, budget allocations and balance sheets, along with other factors, to come up with its list.

The site states that Louisiana has a terrible credit rating, the 3rd highest unemployment rate in the nation, the 2nd highest poverty rate and just overall falls short in every category rated and judged.

Here is the exact assessment of Louisiana's government from the financial website:

Many of the worst managed states have relatively little revenue to work with. Louisiana is no exception. The state collects the equivalent of only $2,071 per person in tax revenue a year compared to $2,821 per capita states states collect on average. With low revenue, the state struggles to save for unexpected budget shortfalls and fund its pension system. Louisiana’s rainy day fund is only worth about 3.0% of it annual budget and only 63.3% of the state’s pension system is funded, each among the smallest such shares among states. Joblessness is also a major problem in Louisiana, and the state offers little assistance to its out-of-work residents. Some 6.1% of Louisiana’s labor force was unemployed in 2016, the third highest unemployment rate in the country after only Alaska and New Mexico. Additionally, the average unemployment insurance payout covers less than a quarter of the typical weekly wage. Nationwide, unemployment insurance payouts cover over a third of the average weekly wage.

Just in case you were wondering, Minnesota has the best and most efficiently run government by their standards.

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