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State Budget gaps now $97 billion
Still reeling from high gas prices this summer and plummeting retirement savings this fall, Americans will soon be feeling the pinch in other ways — from increased tuition to potentially higher taxes, as states try to close some $97 billion in budget gaps over the next two years.
States will have to find additional spending cuts of $32 billion for current budgets before even beginning to tackle $65 billion in deficits shaping up for the next fiscal year, the National Conference of State Legislatures reported Dec. 4. States have already closed a $40 billion gap since the start of the fiscal…
9Dec2008 | The Real Deal | 0 comments | Continued
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