Arturo Perez, a fiscal analyst for the National Conference of State Legislatures, said that 31 states struggled to close gaps in their latest annual budgets. They managed to do so, but now risk a drop in revenues if stocks continue to decline.
Arturo Perez, a fiscal analyst for the National Conference of State Legislatures, said that 31 states struggled to close gaps in their latest annual budgets. They managed to do so, but now risk a drop in revenues if stocks continue to decline.
State pensions were already well behind the 8-ball before this latest decline. A huge number are underfunded and based on assumptions that make Dr. Pangloss look like Milne’s Eeyore. These are yet another government-sponsored disaster in the making.