The south has been red for decades and is among the poorest and least developed regions in the US.
California, New York, a good portion of the New England area, Detroit, Chicago (I think,, maybe I'm thinking of their gun problems), are among the top developed areas that are in financial straits. Wisconsin was in some financial trouble too, IIRC, until their conservative governing took over. Now, he did some very unpopular things to a lot of people in that state, but their finances turned around.
Texas seems to be doing much better than that. Florida too (I believe, but many of the posters here could say for sure).
Other smaller southern states, like where I live, are not near as strong economically, and more underdeveloped than those bigger places. But, our financial situation is not as dire as some of the "developed- more progressive" big boys.
That's what I was referring to. Yes, I know West Virginia is not near developed as California/New York. But that doesn't mean their financial situation isn't in much worse shape.