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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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News
Recent news on this topic.
senator he won't slip earmarks into the federal budget. As speaker, however, he didn't mind a state budget with...
years. 'History says you absolutely do raise taxes in a recession,' said Jon Shure, deputy director of the state fiscal...
A watchdog group that was created to review Connecticut state government contracts in the aftermath of scandals in...
The Patrick administration said late last month it would eliminate nearly 1,000 jobs to close a massive state budget...
reporters. Paterson said cuts to school aid and health are critical because they represent 55 percent of the state...
Editorials / Opinion 57F Welcome to The Seattle Times' online letters to the editor, a sampling of readers' opinions.
year-and-a-half. Thursday's official revenue forecast will set the table for Gov. Chris Gregoire to write an updated...
MONTPELIER, Vt. --Vermont lawmakers worried about the state budget are meeting to take the state's fiscal pulse.
will need to submit if they want to get a piece of the second and final round of State Fiscal Stabilization Fund...
issued last week. We are seeing the worst numbers and indicators that weve ever seen in terms of state fiscal...
say they expect to do the same in 2010, Scott Pattison , executive director of the National Association of State Budget...
Government would construct a community hall for the pilgrims. Chief Minister B.S. Yeddyurappa had announced in the...
Budget cuts to public health programs in Massachusetts were not nearly as deep as some advocates had feared, but...
more specific breakdown of how casino revenue would be allocated to the horse industry, which has suffered under state...
Michigan Gov. Jennifer Granholm talks about school funding cuts along with state budget director Bob Emerson, left,...
The time might be right for a new federal initiative on internet sales. In this entry, I propose that a 10% federal...
Arizona officials say they plan to offer securities to individuals and institutional investors to ease the state's...
were "embarrassing themselves" and called on them to "grow up" and accept his plan for $3 billion...
funding. Quon and district representatives will present the steps the district is taking to deal with the ongoing state...
the plan's $276 billion direct spending component. One of the largest portions of that component -- a state fiscal...
A radio station had a different sound Monday because of the new state budget. The state spending plan the governor...
New York State’s income tax revenue has dropped 36 percent from the same period in 2008, Governor David Paterson said,...
Two years ago, after another brief and embarrassing shutdown, Speaker of the House Andy Dillon, a Democrat, and Senate...
Gov. David Paterson fancies himself a financial doomsayer -- the man with the intestinal fortitude to stand up and...
Top Sources: State Budget Deficits
- bloomberg.com
- ihavenet.com
- money.cnn.com
- BusinessWeek
- statesmanjournal.com
- publicpolicydialogue.blogspot.com
- CNN Money
- Wall Street Journal Online
- trendpov.com
- tanmaygopal.blogspot.com
