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Article: Oh what a relief it is. (state budgets)
- Article from:
- State Legislatures
- Article date:
- October 1, 1993
- Author:
CopyrightCOPYRIGHT 1993 National Conference of State Legislatures. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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For state finance it was not the best of yeas, nor the worst of years. Most states finished their budgets earlier than usual, and almost every state did so before the new fiscal year began. Most state budgets balanced last year, even if only just. Most budgets will stay in balance in this fiscal year, although slow national economic growth will keep the margin of safety small. Some states built up reserves a little in the course of FY 1993, or paid off deficits rolled forward from the year before. Although familiar long-term problems continued to plague legislators, tax increases, for a change, were very small.
All in all, it was a comfortably mediocre, unexciting ...