state budget crisis

Trapped in a deepening fiscal quagmire, California Gov. Arnold Schwarzenegger (R) has proposed a budgetary shift that could jeopardize federal stimulus funding for education, the San Francisco Chronicle reports.
Although $10 billion in stimulus funds for education has been granted to the state, those funds come with a caveat, as outlined by the U.S. Department of [...]

The Center on Budget and Policy Priorities, a liberal policy analysis group, just issued its take on the recent GOP suggestion that states should be given loans, not grants, as part of the Democrats’ soon-to-be-unveiled stimulus package. A point we missed earlier: Because 49 states have some form of legal balanced budget requirement, many wouldn’t [...]

Last week, we wrote about the budget troubles facing states in this sputtering economy, with nearly half of them already proposing or enacting cuts to Medicaid. The reason is clear: 49 states have some form of legal balanced-budget requirement, and Medicaid, which is paid with a combination of state and federal funds, eats an enormous [...]

As the banks go national and Wall Street goes loco, states are increasingly feeling the pain of the economic turmoil.
Twenty-one states and the District of Columbia now face budget shortfalls totaling $8.9 billion this fiscal year, according to an analysis released this month by the Center on Budget and Policy Priorities, a liberal policy watchdog.
The [...]