Washington (Dec. 4, 2002) -- States face the worst fiscal situation since World War II, according to a report from the National Governors Association and the National Association of State Budget Officers.
The associations' biannual report found that despite significantly cutting state spending, 37 states were forced to reduce their enacted budgets by about $12.8 billion in fiscal 2002. About midway through the current fiscal year, 23 states plan to reduce their net enacted budgets by more than $8.3 billion.
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