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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.
lawmaker was one of three Republicans earlier this year to side with Schwarzenegger and Democrats in supporting a state...
PHOENIX --The Arizona Senate has delayed a special session focused on the state's budget troubles that was set to...
Michigan Gov. Jennifer Granholm, squaring off against Republican lawmakers, has launched a campaign to salvage a $100...
Nov 22 - Thousands of students at California's top public universities staged demonstrations against a 32 percent rise...
Lawmakers responsible for setting Rhode Island's spending may soon get unwelcome news about a growing budget deficit.
to the capital, the groups members grew frustrated by the lack of attention from lawmakers consumed by a state budget...
to scare legislators into voting against it. Still more pressing is the need for further action on the state budget
at 3:49 PM Comments (0) Print view Share The Federal Aviation Administration is blaming an equipment outage this week...
The Patrick administration said late last month it would eliminate nearly 1,000 jobs to close a massive state budget...
at 12:38 PM Comments (0) Print view Share The government says an accused spy for Cuba has agreed to plead guilty.
at 9:31 AM Comments (0) Print view Share Democratic Sen. Ben Nelson of Nebraska is a "yes" in a crucial...
Local News 53F Comments (0) Print view Share A Seattle police officer was taken to Harborview Medical Center this...
taken a "risky" approach by adjourning for the remainder of the year without closing a projected $125 million...
reporters. Paterson said cuts to school aid and health are critical because they represent 55 percent of the state...
at 6:32 AM Comments (0) Print view Share Fresh from his weeklong trip through Asia, President Barack Obama is taking...
Editorials / Opinion 57F Welcome to The Seattle Times' online letters to the editor, a sampling of readers' opinions.
LOS ANGELES -- As hundreds of students demonstrated outside, University of California leaders on Thursday voted to...
t 9:24 AM Comments (0) Print view Share Georgia's recession continues. Georgia's recession continues. That's the word...
some future officeholder to tackle them. Alarm bells are already ringing again following a report by an independent...
NJ Governor-elect Tells Local Officials There's No Miracle Cure For State's Fiscal Problems
Extract not available.
Wash. -- Washington's Legislature will likely raise taxes and cut spending to fix a $2.6 billion state budget deficit.
year-and-a-half. Thursday's official revenue forecast will set the table for Gov. Chris Gregoire to write an updated...
the American embassy reported that he had lent to officials there a copy of an official document, the state budget.
Top Sources: State Budget Deficits
- publicpolicydialogue.blogspot.com
- CNN Money
- cbpp.org
- bloomberg.com
- Boston Globe
- Chicago Tribune
- canada.com
- Crains Detroit Business
- Education Week
- lohud.com
