Budget deficits of US states rising, survey says

According to preliminary survey findings from the National Governors Association, conditions of US states' economies are set to worsen.



In a survey conducted last week of 45 of the 50 states, the group found that states have $18.8 billion of budget gaps yet to be closed in fiscal 2010.

This news comes after they have already imposed measures to eliminate budget imbalances totaling $87 billion in the fiscal year, which for most started last summer, Reuters reported on Saturday.

In the budgets they are drafting for fiscal 2011, states foresee shortfalls of $53.6 billion, and they are predicting budget deficits of $61.6 billion for fiscal 2012.

The $787 billion stimulus plan the US Congress passed a year ago included the largest transfer of money from the federal government to states in the nation's history. But for many states, most of the funding will run out by December.

Moreover, a crisis in the healthcare system is adding to the already existing problems




source: www.presstv.ir