An independent analysis of six large states released by the State Budget Crisis Task Force has found that the fiscal crisis for states will persist long after the economy rebounds as they confront rising health care costs, underfunded pensions, ignored infrastructure needs, eroding revenues and expected federal budget cuts.
While almost all states are required by law to balance their budgets yearly, many have relied on gimmicks and nonrecurring revenues in recent years to mask the continuing imbalance between the revenues they collect and the expenses they face. Lax accounting systems have allow them to do so.
For details regarding the economy of any particular state, consult the States Stats Map at Stuff Economics.
