States and Budget Cuts

Posted on July 3, 2009 by admin

• State budget woes worsen as deadline arrives, By Deborah Tedford, July 1, 2009, National Public Radio: “States across the country got their 2010 fiscal years off to a bumpy start Wednesday, as some faced shutdowns with their budgets in limbo and others braced for deep cuts after passing bare-bones plans to deal with recession-driven revenue shortfalls…”
• Coffers empty, California pays with I.O.U.’s, By Jennifer Steinhauer, July 2, 2009, New York Times: “An ever-widening budget gap joined with intractable political paralysis to deliver California its biggest fiscal blow in decades on Thursday, when the state’s controller began printing i.o.u.’s in lieu of cash to pay taxpayers, vendors and local governments.   It was only the second time the state had adopted the emergency payment method since the Great Depression. The National Conference of State Legislatures had no record of any other state’s ever using them…”