A new study out of think tank the Center on Budget and Policy Priorities says that despite recent revenue growth and budget surpluses in some states, most states continue to feel the after-effects of a recession that hit in 2000.
According to the center, the economic growth the states are now experiencing follows several years of falling or steady revenues. During those years, the paper's authors say that states cut back on services, withdrew from reserve funds and enacted temporary revenues, among other one-time accounting methods used to narrow the budget gaps. The paper contends that, as a result, state fiscal conditions today are weaker than they were before the last recession.
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