Economists: State deficits could stall recovery
States need federal bailout commitments now to avoid dragging the nation back into recession in 2011, according to the Center on Budget and Policy Priorities.
Even though total state tax revenues through June were $865 million more than for the same period just three years ago, year over year declines will continue, raising projected deficits for [...]
Elected officials just want to spend money
By Paige Winfield
“The problem is, no matter what, elected officials want to spend money,” Scott Pattison, director of the National Association of State Budget Officers said after a recent meeting in Alexandria, Va.
He and representatives from 15 states met to work on what they called the looming fiscal “cliff effect” states face when American Recovery [...]
Gov’s Need to Admit Fiscal Reality Behind Cries of “Revenue Crisis”
News analysis
Come on governors, confess to the American people. Those “balanced” budgets you just passed are shams.
Admit states are in much worse – at least $5 trillion worse — fiscal shape despite the fact that you are squeezing as much money out of taxpayers as you did only three years ago.
Recent data from the [...]
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