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

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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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