December 10, 2010

A BUNCH OF LITTLE GREECES: National Conference of State Legislators gathers over ‘dire’ numbers. “According to an NCSL report released in conjunction with the meeting, 15 states now have operating budget gaps for the current fiscal year totaling more than $26 billion. Next year they project shortfalls totaling more than $82 billion in 35 states. California alone is facing a projected operating deficit of $25 billion over the next 18 months. llinois is facing a shortfall of almost 50 percent in the current year alone.” Drastic spending cuts are called for, but politicians are reluctant to do what’s needed.

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