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29 States Faced Total '09 Shortfall of $48 Billion

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Publication Date: August 2008

Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Iris J. Lav; Elizabeth C. McNichol

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Banking and finance (Public finance)
Economics (Economic policy, planning, and development)

Keywords: Regional collaboration; Fiscal projections; Economic projections

Type: Report

Abstract:

At least 29 states plus the District of Columbia, including several of the nation’s largest states, faced an estimated $48 billion in combined shortfalls in their budgets for fiscal year 2009 (which began July 1, 2008 in most states.) At least three other states expect budget problems in fiscal year 2010.