A Balanced Approach to Closing State Deficits

Source: Iris J. Lav, Center on Budget and Policy Priorities, February 16, 2010

From the summary:
As states head into their third year of fiscal crisis most continue to face severe revenue shortfalls that require closing huge deficits. [1] As states prepare and consider budgets for the fiscal year that begins July 1, 2010 in most states, the choices they make about how to close those deficits have serious implications both in the short and long term. States that rely solely or primarily on widespread budget cuts to close deficits are harming residents and businesses that need immediate assistance; they also are reducing demand in the economy and impeding their state’s economic recovery.

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