budget-holes
Kiplinger Washington Letter January 29, 2010 (The Kiplinger Letter)
If the federal deficit is a runaway train racing, with no brakes, toward a steep precipice… most states have already gone over the cliff. State budget holes are getting deeper. Revenues fell dramatically all last year… down 11.1% in the sharpest decline in 46 years. Corporate income taxes slid the most, 17.5%, but individual income and sales tax revenue was also down, by 11.3% and 8.8%, respectively.
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Kiplinger Washington Letter January 29, 2010 (The Kiplinger Letter)
