Comment on Instead of signs of recovery, a sucker punch for state budgets

Instead of signs of recovery, a sucker punch for state budgets

Many states have announced higher-than-expected tax revenue — the first upbeat news to come out of beleaguered state budget offices since 2007. But the windfall is largely the result of smoke and mirrors. Revenue estimates for this year were set at ultra-low levels, leaving plenty of room for good news. The reality is that state budget problems are the worst they’ve been since the start of the recession.

 

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