States That Are Spending More in 2009
State of Affairs
(Fox News) - Twenty-two of the 36 states facing budget deficits this fiscal year are increasing spending. Yes, increasing. Many states are collecting significantly less revenue than they counted on when budgets were drafted six months ago.
Spending cuts or tax increases will be necessitated because a number of states are required by law to balance their budgets. Cybercast News reports a survey from the National Governors Association and the National Association of State Budget Officers released this week says the biggest offender is Nevada which at mid-year was $115 million in debt but plans to increase spending by just over 11%. New York will spend about 5.5% more despite being $1.8 billion in the red. Rounding out the top five are Ohio, North Carolina and Connecticut.
(Fox News) - Twenty-two of the 36 states facing budget deficits this fiscal year are increasing spending. Yes, increasing. Many states are collecting significantly less revenue than they counted on when budgets were drafted six months ago.
Spending cuts or tax increases will be necessitated because a number of states are required by law to balance their budgets. Cybercast News reports a survey from the National Governors Association and the National Association of State Budget Officers released this week says the biggest offender is Nevada which at mid-year was $115 million in debt but plans to increase spending by just over 11%. New York will spend about 5.5% more despite being $1.8 billion in the red. Rounding out the top five are Ohio, North Carolina and Connecticut.
posted by BP News Bureau | 9:42 AM
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