Looking into the Gap
Although economists have proclaimed the end of the Great Recession—as of June 2009—states aren’t seeing it. States experienced the steepest decline in state tax receipts on record since the 1930s, and 44 states and the District of Columbia are projecting budget shortfalls for the 2012 fiscal year, which begins July 1, 2011, according to the Center on Budget and Policy Priorities, based in Washington, D.C. The 2012 budget gaps range from $92 million in Idaho to $25.4 billion in California. Six states—Alaska, Arkansas, Montana, North Dakota, West Virginia and Montana—are not anticipating shortfalls, according to the Center on Budget and Policy Priorities report March 9. Data were not available for New Hampshire and Tennessee.
Source: Center on Budget and Policy Priorities report: “States Continue to Feel Recession’s Impact”
Accessible at http://www.cbpp.org/cms/?fa=view&id=711