Aknauta
01-06-2003, 03:12 PM
frontpagemag.com
Coming to a State Near You
By Allan J. Favish
FrontPageMagazine.co m | January 6, 2003
Recently, the National Conference of State Legislatures, a bipartisan research and consulting organization, reported that collectively, the states have a "$17.5 billion budget gap to fill before fiscal year 2003 ends, which for most states is June 30."
Thereafter, the Center on Budget and Policy Priorities, a left of center nonprofit research organization, released a report stating that the "budget deficits now looming over state governments will likely reach $60 billion to $85 billion in state fiscal year 2004 and constitute the largest state budget gaps in half a century." The Center stated that these deficits represent 13-18 percent of state expenditures and "are on top of both $50 billion in deficits that states closed when enacting their fiscal year 2003 budgets and additional deficits of at least $17.5 billion in 2003 that have opened up in the months since the 2003 budgets were enacted."
California is the deficit leader. The New York Times reported California's "shortfall is bigger than the annual budgets of every other state except New York. California's own general budget for the current fiscal year is $78 billion."
The irresponsibility of leaving these questions unanswered is breathtaking (http://www.frontpagemag.com /Articles/ReadArticle.asp?ID=5 307)
Coming to a State Near You
By Allan J. Favish
FrontPageMagazine.co m | January 6, 2003
Recently, the National Conference of State Legislatures, a bipartisan research and consulting organization, reported that collectively, the states have a "$17.5 billion budget gap to fill before fiscal year 2003 ends, which for most states is June 30."
Thereafter, the Center on Budget and Policy Priorities, a left of center nonprofit research organization, released a report stating that the "budget deficits now looming over state governments will likely reach $60 billion to $85 billion in state fiscal year 2004 and constitute the largest state budget gaps in half a century." The Center stated that these deficits represent 13-18 percent of state expenditures and "are on top of both $50 billion in deficits that states closed when enacting their fiscal year 2003 budgets and additional deficits of at least $17.5 billion in 2003 that have opened up in the months since the 2003 budgets were enacted."
California is the deficit leader. The New York Times reported California's "shortfall is bigger than the annual budgets of every other state except New York. California's own general budget for the current fiscal year is $78 billion."
The irresponsibility of leaving these questions unanswered is breathtaking (http://www.frontpagemag.com /Articles/ReadArticle.asp?ID=5 307)