Many states still struggling despite growing U.S. economy
Posted: Fri Apr 07, 2017 6:48 am
Reuters - 4/6/2017 - Rory Carroll - Even with the U.S. economy boasting impressive job growth and domestic equity markets near record highs, a fragmented recovery has left many states struggling to close budget deficits nearly a decade after the 2008 financial crisis. The broad recovery has benefited large, economically diverse states like California and Texas, ratings agencies say, while states heavily dependent on oil revenues, like North Dakota and Alaska, and those like Illinois that are grappling with large unfunded pension obligations, have seen budget deficits bloom. That has left those struggling states with painful decisions over spending cuts and tax increases, and ill prepared to deal with another economic downturn or cuts to federal money tied to the Medicaid program. Read more @ http://www.reuters.com/article/us-usa-m ... SKBN1782SZ