Source: National Conference of State Legislatures, March 2011
From the introduction:
Nearly two years into the U.S. economic recovery, following the end of the Great Recession, state finances are showing encouraging signs of revenue stability. At the same time, budget gaps remain a daunting obstacle for some states. Much of the difficulty is explained by the significant drop in state revenue collections in the previous two fiscal years. The steady, but slow pace of revenue growth since, has not been sufficiently robust to offset the loss of American Recovery and Reinvestment Act (ARRA) funds or the increases in caseloads and related costs in program areas such as Medicaid and K-12 education.
– Press release
– Condensed version