July 4, 2008

State Budgets Weaken, and May Get Worse

By SARA HEBEL

The economy in many states is weakening, and the overall state-budget outlook for the next several years is gloomy, according to a report released in June by the National Governors Association and the National Association of State Budget Officers.

Budget conditions vary among the states, according to "The Fiscal Survey of the States." But overall growth in state spending has slowed significantly, it says, and an increasing number of states face revenue shortfalls. Tighter state budgets

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