Bad economies in states to worsen: governors

[Synicus Maximus]

Source: Reuters

"The situation is fairly poor for a lot of states around the country. In fact, most states," Vermont Governor Jim Douglas, who is chairman of the association, said at a press conference at its annual meeting.

"What we're finding out from a fiscal standpoint is that the worst is yet to come," Douglas said.

In a survey conducted last week of 45 of the 50 states, the group found that states have $18.8 billion of budget gaps yet to be closed in fiscal 2010. This comes after they have already imposed measures to eliminate budget imbalances totaling $87 billion in the fiscal year, which for most started last summer.

Read more: http://www.reuters.com/article/idUSTRE61J26V20100220

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This don't sound good.

[Grateful for Hope]

1. Agee.

[blue_onyx]

2. No, it doesn't sound good

Here in MI, we have a $1.6 billion budget deficit. After cutting spending last year, we can't afford to cut any more. Unfortunately, our congress is controlled by Republicans and DINOs who are insisting on a budget that only cuts spending. The governor refuses to cut school funding more so we'll likely have the third government shutdown in 4 years.