State Fiscal Strains Linger in Economic Recovery
January 16, 2014 | Publication | Policy Research, Improving the Nation's Fiscal Future
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U.S. state revenue is not rising fast enough to keep up with the cost of funding pensions, health care, and public works projects, underscoring financial strains that persist during the economic recovery, according to a report from the State Budget Crisis Task Force. The report outlines a troubling picture of the unsustainable fiscal position of many states and their local governments across the country, and stresses that understanding and action by the federal government as well as the states will be required to support needed reforms.