29 STATES FACED TOTAL BUDGET SHORTFALL OF AT LEAST $48 BILLION IN 2009

CBPP reports:

At least 29 states plus the District of Columbia, including several of the nation’s largest states, faced an estimated $48 billion in combined shortfalls in their budgets for fiscal year 2009 (which began July 1, 2008 in most states.) At least three other states expect budget problems in fiscal year 2010.

In general, states closed these budget gaps through some combination of spending cuts, use of reserves or revenue increases when they adopted a fiscal year 2009 budget. At this point in the year, most states have already adopted those budgets; only two states — California and Michigan — continue to deliberate.

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