State government finances to weaken

uscitizen

uscitizen

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State government finances to weaken - survey
Weaker revenue, tax cuts expected; state governments may dip into reserve funds in 2008, National Conference of State Legislatures says.
August 9 2007: 11:44 AM EDT

MIAMI (Reuters) -- The finances of U.S. state governments remain generally strong but will likely weaken in fiscal 2008, with many states planning to tap reserves, according to a survey of state finances released Thursday.

"All in all, the state fiscal situation was solid in almost every state through [fiscal year] 2007," the survey from the National Conference of State Legislatures said. "But it appears that state finances are in transition."

Drawing on budget information from 45 states and tax information from 41, the survey said the fiscal health of states had likely peaked for the decade during fiscal 2006 and was now showing wear and tear as the U.S. economy slows.

http://money.cnn.com/2007/08/09/news/economy/bc.usa.states.budgets.reut/index.htm?postversion=2007080911
 
I really think that conservative efforts to cut back on government primarily had an effect on state governments... and therefore, ironically enough, they've pretty much killed state government. Alabama can't even get a progressive tax passed.
 
Watermark said:
I really think that conservative efforts to cut back on government primarily had an effect on state governments... and therefore, ironically enough, they've pretty much killed state government. Alabama can't even get a progressive tax passed.
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I would love to think Conservatives are cutting back on government but where are they doing it? All I see is the government growing not shrinking.
 
cawacko said:
I would love to think Conservatives are cutting back on government but where are they doing it? All I see is the government growing not shrinking.
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The federal government is growing like mad, and that state governments are getting more and more cuts. They can barely keep up their infrastructure, but if anyone proposes a tax increase on that side they get voted out of office immediately. The federal government gets around this by charging our grandchildren.

(Most states have some form of balanced budget ammendment, BTW, they can't afford those kinds of luxuries)
 
Watermark said:
The federal government is growing like mad, and that state governments are getting more and more cuts. They can barely keep up their infrastructure, but if anyone proposes a tax increase on that side they get voted out of office immediately. The federal government gets around this by charging our grandchildren.

(Most states have some form of balanced budget ammendment, BTW, they can't afford those kinds of luxuries)
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Not here in California. We are quite good at spending freely whether we have the money or not.
 
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