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states are facing budget shortfalls totaling $160 billion over the next two years

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posted on Jun, 1 2010 @ 12:51 PM
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I guess the only reason that States are able to keep working is due to the bailouts, but soon this bailouts are to expired, but then we have to worry about the HCR.

State Governments' Funding in Danger


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.


Read what some states are planning to lower their deficits. . .

www.economyincrisis.org...




posted on Jun, 1 2010 @ 12:53 PM
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just shows how the economy is doing and where it headed.



posted on Jun, 1 2010 @ 12:57 PM
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reply to post by pavelivanov22
 


Well you know that before the federal government goes down the hill it will start with the individual states, as they no longer can support themselves without federal help.

But with the increasing unemployment and less taxable income to be generated something has to be done, obviously service jobs that are in the increase with the bailouts are not enough to get people off welfare and food stamps.



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