The State and Local Revenue Shortfall Tsunami Continues Spreading Inland

As one house of Congress and the executive branch appear to be stone-walling on what economists and public finance experts from across the political spectrum know and keep telling the anybody who will listen must be done to at least shorten the duration of our Greater Recession, the tsunami of budget shortfalls, public sector layoffs and project deferrals continues. The Urban Institute's latest monthly survey of state tax revenue by Dr. Lucy Dadayan is now out and, once again, the numbers demonstrate how the state and local fiscal stress is spreading from the northeast and western coasts into the midwestern and southern heartlands:

Also, The Associated Press has published a good overview of this national crisis with its full spectrum of state variations by a team of reporters (led by Geoff Mulvihill) each contributing from their own statehouse news beat.

Kudos to the AP!