What’s The State Of Your State?

The largest gaps in history are being faced by 48 states in year 2010 – totaling $178 billion or 26 percent of state budgets. Sound like the crisis is over to you?

Troubling financial times continue to affect states across the nation. The fiscal year begins on July 1, for most states. The current fiscal year is 2010.

It appears that fiscal budget problems for states are not going to improve in the year 2011. The total gap could reach $180 billion. Click here for more figures.

High unemployment, increase demand for Medicaid, diminished income of families, slumping housing markets, low consumer confidence, and a sick economy severely impacts revenue for states.

Just how bad is this going to get? The estimates project that financial burdens on states are not going to ease until 2012.

Montana and North Dakota are the only two states with no shortfalls. Why are these states doing so well? They are rich in minerals.

States in worst financial condition: Nevada, New York, Alaska, Arizona, Florida, California, Vermont, Connecticut, Illinois, New Jersey, Washington, and Hawaii.

Most nearly all of states are struggling, and nearly all are facing budget deficits. According to the latest Pew results, 50% of people hold favorable views of state government.

In the 12 states with the biggest budget gaps, 58% have an unfavorable view of their state.