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Facing serious budget shortfalls over the next two years, many state and local governments are getting creative and considering proposals that would completely restructure government.
With stimulus programs that have padded states' bottom lines for the past two years set to expire next year, tax revenues falling $686 billion last year and millions of unemployed seeking the aid of government services, states are facing budget shortfalls totaling $160 billion over the next two years, according to a report by the National League of Cities.
In response, some state’s have considered balancing their budget in unconventional ways.