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December 4, 2008 10:20:07 AM CST

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state spending news stories

7 Stories

Obama Pledges Money for States at Govs' Meeting

Offers 'hand of friendship' to Republicans as well

CNN CNN Dec 2, 08 11:03 AM CST
(Newser) - States can count on some federal greenbacks soon, Barack Obama promised today in an appearance at the National Governor’s Association conference, reports CNN. Obama said he understood the budget shortfalls 41 states are facing this year or next and that help would be coming. “To my Republican colleagues,” he added, “I offer you the same hand of friendship. We compete vigorously during an election, but with the end of that season comes the time to govern together.” More »

More about:  Barack Obama • President Obama • state spending • National Governors Association

States Fret as Road Salt Grows Scarce, Pricey

Last year's winter depleted reserves

USA Today USA Today Oct 6, 08 3:43 PM CDT
(Newser) - Road salt is stressing state and municipal budgets as shortages drive prices up well past what local governments have paid in the past, USA Today reports. A harsh winter last year left many states with no salt reserves to carry over, meaning they have to fully restock at inflated prices. New Hampshire is paying $10 million for salt that cost $8 million last year. More »

More about:  Ohio • New Hampshire • ice • infrastructure • state governments • winter • salt • state spending • road budget • city government • local politics • budgets

 Creamery Biz 
 Milked Subsidies 
 Under Palin 

Case gives ammo to critics of Palin's Alaska spending record

Wall Street Journal Wall Street Journal Sep 16, 08 5:02 AM CDT
(Newser) - Critics who say Sarah Palin is not as fiscally conservative as she claims are questioning extended subsidies paid to a state-run creamery, the Wall Street Journal reports. The Alaska Creamery Board recommended closing the operation in 2007 after it fell $1.5 million in the red. Palin instead fired the board and replaced it with one headed by a childhood friend. More »

More about:  Sarah Palin • Alaska • fiscal conservatives • state spending • subsidies • dairy

Economic Blues Take Toll on State Budgets

Declining tax revenue may leave them $26B short next fiscal year

Bloomberg Bloomberg Apr 25, 08 1:21 PM CDT
(Newser) - The slumping economy will pummel state budgets in the next fiscal year, leaving them at least $26 billion short, according to a survey from the National Conference of State Legislatures. Payrolls fell drastically in March and consumer confidence is low, a double whammy for state tax revenue. "With a few exceptions, state finances are deteriorating, in some cases considerably,” the survey said. More »

More about:  subprime crisis • economy • recession • state governments • state spending • budget shortfall • economy class

State Budgets Caught in Economy's Freefall

Spending cuts, tax increases in store

New York Times New York Times Mar 17, 08 12:38 PM CDT
(Newser) - Politicians from New York to California are wringing their hands, wondering whether to cut spending or raise taxes. As the economy barrels towards recession, income and sales taxes are coming in well below expectations, and about half the states in the country are facing budget shortfalls, the New York Times reports. In many places, health care and education are on the chopping block. More »

Calif. Crunch May Force Drastic Cuts

State might slash education funds,
free inmates early

Los Angeles Times Los Angeles Times Dec 22, 07 7:22 PM CST
(Newser) - California's dire financial straits may force the early release of 30,000 low-risk inmates and bring drastic cuts in education, the Los Angeles Times reports. Arnold Schwarzenegger will declare a fiscal emergency next month as the state wrestles with a $14.5 billion budget gap. The governor has ordered agencies to explore spending cuts of 10% across the board, which could soften opposition to future tax increases. More »

Calif. Budget
Falls Prey to Housing Crisis

Governator orders across-the-board cuts as deficit nears $10B

Los Angeles Times Los Angeles Times Nov 6, 07 9:26 AM CST
(Newser) - With the housing crisis laying waste to California’s coffers, Arnold Schwarzenegger yesterday ordered all state agencies to cut budgets by 10%, the LA Times reports. “We are among a handful of states that has a lot of exposure to the housing crash,” said an economist. Property, sales, and income taxes are all down, threatening to balloon the deficit to $10 billion. More »

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