Commentary

State Budget Deficits in Perspective

Following up on my Tuesday post on worsening state budget deficits, Stateline.org offers a comparison of deficits in the current and previous (post-9/11) recession that illustrates the scale of the fiscal crunch states have been and will continue to face:

As I write here, states are going to need to embrace some fundamental budgeting and spending reforms to weather the fiscal storm.