New Fiscal Year Brings More Grief for State Budgets, Putting Economic Recovery at Risk

New Fiscal Year Brings More Grief for State Budgets, Putting Economic Recovery at Risk, by Erica Williams, Phil Oliff, Ashali Singham and Nicholas Johnson

  • “Dismal state revenue collections caused by the severe recession are setting the stage for a new round of state budget cuts as fiscal year 2011 begins in most states on July 1. The states’ cumulative budget shortfall will likely reach $140 billion in the coming year, the largest shortfall yet in a string of huge annual gaps that date back to the beginning of the recession. Closing it will have severe effects on services and jobs.”
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