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Originally posted by TheCoffinman
... the next few years are gonna be interesting....
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.
In the budgets they are drafting for fiscal 2011, states foresee shortfalls of $53.6 billion and for fiscal 2012 $61.6 billion.
Originally posted by GreenBicMan
reply to post by Vitchilo
Our things are most likely the more relevant thing on this thread. Some critical thinking opposed to posting the most negative thing I can find on a consistent basis regarding the economy, most of which is a fallacy at best, isn't doing anyone any good.
Ruining the thread? That is laughable. Like many of your previous posts on this thread.
Fed emergency loans to banks continue to decline
WASHINGTON — Banks borrowed less from the Federal Reserve’s emergency lending program over the past week, another sign that strains on private credit markets are easing.
Commercial banks averaged $14.77 billion in daily borrowing for the week that ended Wednesday, the Fed reported. That was down from $14.86 billion in average borrowing for the previous week.
Banks have been scaling back their use of the Fed’s emergency discount loan window as the financial crisis has eased. At the peak of the crisis, which struck with force in the fall of 2008, banks’ daily borrowing from the discount window reached $110 billion as banks found their normal sources of credit frozen.