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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.
Gov. Jerry Brown has signed $11 billion in cuts to the state budget, which translates to less medical care for the...
The recovery on Wall Street has swelled into Connecticut, boosting the state's tax revenues and igniting a battle over...
North Florida, in the Web magazine Religion Dispatches. Most of the tasks performed by those protesting the Wisconsin...
for the cut to become permanent; a recent Assembly bill would extend the cut for two more years. State budget problems...
Extract not available.
Foundation, which promotes entrepreneurship. "The uncertainty issue has sort of returned," he says.
seem likely the Cemex property would join those ranks, at least not in the near future. With persistent state budget...
State budget problems and lower gambling revenues are cutting into funding for gambling addiction programs in some...
These forces in Chicago business and civic life are all over age 70���and the only thing they���re not good at is...
/PRNewswire/ -- Leaders of Ohio's local governments say the substitute version of the state budget bill released...
By Stephen Zack, president of the American Bar Assn., compares the effect of recent state budget cuts on the U.S.
Conn. Republican state senator Tom Scott think they can turn enough legislators against Conn. Gov. Daniel Malloy's...
Where's the outrage? House Democrats on the Appropriations Committee asked Thursday. Not enough Texans understand the...
rate was 4.96 percent for residents and 4.31 percent for nonresidents. Susan Hooper, spokeswoman for the state budget...
These forces in Chicago business and civic life are all over age 70and the only thing theyre not good at is retirement.
Japan's ruling Democratic Party has just lost two sets of local elections. Candidates either from or allied with the...
budget cuts to be unfair to them; 39 percent said they were fair. But 55 percent want the state budget balanced only...
319,000, a big jump from 282,000 last year when Cal State severely restricted enrollment because of state budget cuts.
LONG BEACH, Calif.���Gov. Jerry Brown is preparing to speak at the California State Parent Teacher Association's 112th...
Japan's ruling Democratic Party has just lost two sets of local elections. Candidates either from or allied with the...
Medicaid in Florida has grown to $21 billion from $9 billion and amounts to a third of the state budget.
Medicaid in Florida has grown to $21 billion from $9 billion and amounts to a third of the state budget.
most of the sales taxes they collect to repay the loan, rather than contributing the money to the state budget.
funding may prove among the toughest for state lawmakers to pass as they work on Michigan's next state budget.
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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