From the FINANCIAL TIMES:
Most US states are expecting to see tax revenues improve after a freefall from the recession, but a recovery remains uncertain and hinged on whether economic growth withstands the end of federal stimulus funds, a report on Tuesday shows…
People across the US have seen massive cuts to services, ranging from library hours and public parks to public safety, education and assistance. A debate is also under way on whether the historically low defaults in the municipal bond market can begin to rise.
According to the National Conference of State Legislatures (NCSL), a bipartisan research group and advocate for state governments, states faced a collective budget shortfall of $83.9bn for the fiscal year 2011, which began for most states on July 1…
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