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STATE BUDGET DEFICITS
Cumulative state budget deficits for fiscal year 2009 are projected to be $168 Billion despite states having received more than $200 Billion in direct federal "stimulus" assistance. No doubt, a large portion of this shortfall (which equals 24% of expected expenditures) is caused by recession. But lots is also caused by tax policies which have often limited property taxes after voter referendum, made corporate taxes incredibly sensitive to changes in receipts or sales; and in general made state tax revenue much more sensitive to economic downturn. If companies deemed too big to fail must increase capital reserves; then the states should also be required to maintain much higher rainy day (or surplus) funds. This topic covers the latest news and information on state budget deficits.
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Recent news on this topic.
The US has a significant fiscal deficit and sovereign debt problem, this documentary simply lays out the issues and...
A debt-reduction committee with special powers that was supposed to dissolve congressional gridlock in Washington is...
A member of the congressional supercommittee expressed doubt today that the panel would reach an agreement on a...
OPINION | Braden Kelley has some advice for the “supercommittee” regarding how best to innovate under the pressure of...
Debtocracy gives a fascinating insight into the Greek sovereign debt crisis. It offers an interesting look into how the...
35 states have an additional sales tax on soda, a rate added to the general food tax rates on food and beverage...
If Washington is deadlocked now, how will it deal with the much bigger debt problems that lurk in the decades to come?
What's Your Money Personality? Are you a balanced spender/investor or are you a Binge Spender? A Big Spender or a...
Something astonishing happened in New Jersey. A majority Democratic legislature and a Republican governor agreed on a...
As we address the issue of deficit reduction we must not ignore the painful economic reality of today - which is that...
seven to six the number of high school periods it offers during the next school year because of state budget cuts.
By Times staff Thursday, May 26, 2011 Gov. Rick Scott signed a $69.1 billion state budget Thursday, but before doing...
Some local programs are left in limbo after Gov. Rick Scott cuts $615 million from the state budget
live in The Villages ��� from Thursday's event at the town square. The reason? The $69 billion state budget signing...
can't continue to afford it,'" says Scott D. Pattison, executive director of the National Association of State...
home for the children in the local school district. In fact, the biggest legislative threats to getting a state budget...
future,��� Secretary Mike Huebsch of the Wisconsin Department of Administration said in a statement. The department...
TALLAHASSEE, Fla. -- Florida lawmakers chopped nearly $4 billion from the state's budget for the 2011-12 fiscal year.
about what she said was a 17 percent cut in funding for home and community-based services in the state budget plan that...
Gov. Rick Scott said this morning that he was going to The Villages to sign the state budget to give people a chance to...
OLYMPIA, Wash. ? The Washington State Legislature has adjourned after completing a new state budget that fills a...
By On May 11, when Wisconsin's State Budget Office announced that two-year tax revenue would be $636 million more than...
Top Sources: State Budget Deficits
- bloomberg.com
- ihavenet.com
- money.cnn.com
- BusinessWeek
- statesmanjournal.com
- publicpolicydialogue.blogspot.com
- CNN Money
- trendpov.com
- tanmaygopal.blogspot.com
- Wall Street Journal Online
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