The Change Mariner

States' Budget Outlook Bleakest Since War of 1812

Yahoo! News:

With 46 states facing the end of their fiscal years on Monday, 9, an unusually high number, remain locked in disputes over their budgets. This worsening fiscal crisis comes after a spring in which states have made record tax increases and spending cuts, and nearly wiped out their rainy day reserves, a nationwide survey released today reports.

The new data, compiled by the National Governors Association and the National Association of State Budget Officers, describe a fiscal bad dream descending into nightmare this spring as a languishing economy met upward spiraling health-care costs.