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Home / States Continue Their Spending SpreesStates Continue Their Spending Sprees
Last Updated on Tuesday, 13 January 2009 11:11 Written by rslcpol Tuesday, 13 January 2009 11:07
From USA Today:
In Arizona, spending is up 6.6% during the first six months of a budget year that began July 1. That’s on top of a 10.5% increase last year. The state spends an average of $28 million a day while receiving $22 million in revenue, state Treasurer Dean Martin says. “The housing bubble burst in mid-2006 … and the budget keeps growing as if that never happened,” says Martin, who expects to borrow money to pay some bills.
A lot of states “haven’t really ‘fessed up yet in terms of how bad it is,” says National Governors Association executive director Ray Scheppach.