Tuesday, January 5, 2010

Which states are facing the worst budget deficits in 2010? - Amanda Paulson, Christian Science Monitor

The national economy may be in recovery, but most states haven’t yet hit bottom – and many are already facing massive budget gaps halfway through their fiscal year, despite basing those budgets on dismal forecasts. “Unless you’re North Dakota, you’re probably a state that has had some degree of difficulty or crisis involving finances,” says Arturo Pérez, a fiscal analyst with the National Conference of State Legislatures (NCSL), which released its survey of state budget situations earlier this month. “It’s the worst situation states have faced in decades, perhaps going as far back as the Great Depression in some states.”