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Home / Iowa: Finances Worst in DecadesIowa: Finances Worst in Decades
Last Updated on Friday, 5 June 2009 12:05 Written by rslcpol Friday, 5 June 2009 12:05
From DesMoinesRegister:
State governments, including Iowa’s, are immersed in the worst fiscal period of the past 30 years, according to a national survey released Thursday.
State revenues probably won’t hit bottom for several more years, despite signs that the national economy is taking a slow uptick, according to the report.
Iowans should expect future cuts to critical government services such as education, which were avoided in the coming fiscal year because of federal stimulus money, some government advocates said.
“The problem is that this downturn is much worse than anything we’ve seen since we’ve been keeping statistics,” said Ray Scheppach, executive director of the National Governors Association. “This time, it’s going to be another three or four years to come out of it.”