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.

Leonard Gilroy is vice president of government reform at Reason Foundation, a nonprofit think tank advancing free minds and free markets. He also serves as senior managing director of the Pension Integrity Project at Reason Foundation, which assists policymakers and other stakeholders in designing, analyzing and implementing public sector pension reforms.