According to recent survey results gleaned from the National Governors Association the already fragile conditions of states’ economies are set to further weaken. Vermont Governor Jim Douglas suggests that,“The situation is fairly poor for a lot of states around the country. In fact, most states. What we’re finding out from a fiscal standpoint is that the worst is yet to come”. “Economists have declared the national recession over. But for those who are still unemployed, for those who have lost their homes, it’s clear that as a nation we have a long way to go.”
This recent survey suggests that the states have $18.8 billion of budget gaps yet to be closed in fiscal 2010. This comes after they have already imposed measures to eliminate budget imbalances totaling $87 billion in the fiscal year, which for most started during the summer of 2009. All the while the budgets currently being drafted for fiscal 2011, states foresee shortfalls of $53.6 billion and for fiscal 2012 $61.6 billion while at the same time states’ revenues have plummeted for four quarters in a row.
What is most interesting in these in these most challenging times is that all states except for one, Vermont, are required to balance their budgets, so during the recession they have drastically cut spending on basic programs, laid off workers and boosted revenue through raising taxes and fees.
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When the US Supreme (idiot) Court overturned campaign finance laws which will allow corporations and foreign governments to essentially buy US elections, I decided it’s time for me to give up on voting, except at my local level. I’m done. What’s the point now?