Written by: Keun H. Maeng
Several states in this articles are in a situation where their budgets to cover essential services, such as teachers, police officers, and firemen is getting difficult to obtain. California for instance, is actually asking Washington D. C. to cover their 7 billion dollars budget shortfall. The state which has been suffering from the falling home prices and foreclosures, proclaimed a budget that imposed cuts to the state’s health and other beneficial social service program.
However, California is not the only state that is experiencing a huge dive in tax revenue. States in the west such as Arizona, Nevada are being hit critically by the issue with the subprime mortgage crisis, forcing the lawmakers in the states to reduce Medicaid, put a hold in the hiring process for new employment, and even cut the budget that was funded for education and the community.
States in the East such as Rhode Island, New York, New Jersey, and Maryland are suffering from the strong impact of the rising inflation. New York had to cut health insurance programs for the low-income families due to the $630 million shortfall after the budget was enacted. Rhode Island is the victim that has suffered tremendously from the poor housing market. The impact of the poor economic status in our nation is affecting many Americans from across the states. The 31 states that are in potential risk of facing both minor and major shortfalls is estimated to sum up to a grand total of $53.4 billion dollars.
Sources
http://www.naturalnews.com/News_000354_California_budget_deficits_government_spending.html
http://finance.yahoo.com/loans/article/105909/States-That-Can
http://gatewaypundit.blogspot.com/2009/02/senator-judd-gregg-us-is-facing.html
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