State Budget Update: November 2009

Source: National Conference of State Legislatures, November 2009
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From the press release:
Many state legislators were hoping to wake up from this current fiscal nightmare to see revenues recovering in fiscal year (FY) 2010. But according to a new report by the National Conference of State Legislatures (NCSL) released today, lawmakers may have a few more sleepless nights before this fiscal crisis is over.

Leading economists believe that the U.S. economy began rebounding sometime in the third quarter of 2009. But state finances are not expected to recover for at least two years. History shows that state budgets continue to struggle long after a national recession ends. This new report by NCSL is further proof of that fact.

The new report, State Budget Update: November 2009, provides information on all 50 states and Puerto Rico. It is based on data collected from legislative fiscal directors in November 2009.

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