State by State Budget Shortfalls

Rate this post
TABLE 1:
States with Projected FY2012 Gaps
  FY12 Projected Shortfall Shortfall as Percent of FY11 Budget
Alabama $979 million 13.9%
Arizona $974 million 11.5%
California* $25.4 billion 29.3%
Colorado $988 million 13.8%
Connecticut $3.2 billion 18.0%
Delaware $208 million 6.3%
District of Columbia $322 million 5.2%
Florida $3.6 billion 14.9%
Georgia $1.3 billion 7.9%
Hawaii $410 million 8.2%
Idaho $92 million 3.9%
Illinois $4.9 billion 14.6%
Indiana $270 million 2.0%
Iowa $186 million 3.5%
Kansas $492 million 8.8%
Kentucky* $780 million 9.1%
Louisiana $1.6 billion 20.7%
Maine $436 million 16.1%
Maryland $1.4 billion 10.7%
Massachusetts $1.8 billion 5.7%
Michigan $1.3 billion 5.9%
Minnesota $3.8 billion 23.6%
Mississippi $634 million 14.1%
Missouri $704 million 9.1%
Nebraska $314 million 9.2%
Nevada $1.5 billion 45.2%
New Hampshire DK na
New Jersey $10.5 billion 37.4%
New Mexico $450 million 8.3%
New York $10.0 billion 18.7%
North Carolina $2.4 billion 12.7%
Ohio* $3.0 billion 11.0%
Oklahoma $500 million 9.4%
Oregon* $1.8 billion 25.0%
Pennsylvania $4.2 billion 16.4%
Rhode Island $331 million 11.3%
South Carolina $877 million 17.4%
South Dakota $127 million 10.9%
Tennessee DK Na
Texas $13.4 billion 31.5%
Utah $390 million 8.2%
Vermont $176 million 16.3%
Virginia* $2.0 billion 13.1%
Washington $2.5 billion 16.2%
Wisconsin $1.8 billion 12.8%
States Total $111.9 billion 17.6%
Note: Kentucky and Virginia have two-year budgets.  They closed their FY2012 shortfalls when they enacted their budgets for the FY2011-FY2012 biennium.  California’s shortfall includes an $8.2 billion shortfall carried forward from FY2011.  Oregon and Ohio’s shortfalls are one half of the states’ total projected shortfalls for the 2011-2013 biennium.  Estimates of Ohio’s two-year shortfall range from $6 to $8 billion.  DK means that a state is projecting a shortfall but its size is unknown.

Some states have not been affected by the economic downturn, but the number is dwindling.  Mineral-rich states — such as New Mexico, Alaska, and Montana — saw revenue growth in the beginning of the recession as a result of high oil prices.  Later, however, the decline in oil prices affected revenues in these states.  The economies of a handful of other states have so far been less affected by the national economic problems.  Only two states, North Dakota and Montana, have not reported budget shortfalls in any of these years.  Two other states — Alaska and Arkansas – faced shortfalls in fiscal year 2010 but have not projected gaps for subsequent years. 
From the CENTER ON BUDGET AND POLICY PRIORITIES
http://www.cbpp.org/cms/?fa=view&id=711
~LTG

Please follow and like us:
0
 

0 responses to “State by State Budget Shortfalls

  1. I’d bet $100 the WA ST budget shortfall goes up, always does thanks to Queen Christine.
    http://seattletimes.nwsource.com/html/localnews/2014480492_legislature13m.html

     
  2. lowtechgrannie

    What’s a measly hundred billion or so? Now, if it was trillions, we’d be talking real money. (she said sarcastically-LOL)

     
  3. Nevada, the state with the biggest rate of unemployment and the worst housing crash, has the largest shortfall as % of FY2011 budget, at 45.2%.
    Good grief….

     
    • Yet those idiots sent Harry right back to the Senate.
      And wasn’t it President Golfer who was telling people not to go to Vegas not too long ago?
      Go figure.
      -Dave

       
  4. Shortfalls? Guess it’s time to once and for all eliminate wasteful programs and unproductive state employees.
    Whats that? You say its impossible for states to run inefficiently and waste tax payer’s money? In that case, I have some prime waterfront property in Florida I would like to sell.
    I suppose if your state is run by the unions, it would be more popular for law makers to just raise taxes than balance their budgets. Hrmm.

     
  5. wow this can’t be good, looks like a major league disaster looming right over the horizon. i bet president i’ve been to 57 states is right on top of this with policies and federal incentives to curtail or lessen any national economic disaster before it could ignite into something, not.

     

Leave a Reply

Your email address will not be published. Required fields are marked *