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Federal Reserve Bank of Dallas
Southwest Economy
Poor state finances deepen recessionary hole
Jason L. Saving

States are in the midst of perhaps the most challenging fiscal environment of the postwar era. Spending and revenue patterns broke away from trend in the years leading up to the recession, leaving states relatively poorly positioned to overcome the slowdown. And while they have made adjustments to deal with $100 billion-plus gaps in each of the past two years, further action will be needed in 2011 and 2012. Some states that have skirted the edges of shortfall, thus far, may still face significant fiscal pressure.

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Jason L. Saving, "Poor state finances deepen recessionary hole" , Federal Reserve Bank of Dallas, Southwest Economy, issue Q4, pages 10-13, 2010.
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Keywords: State finance ; Recessions ; Fiscal policy
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