Too much money???
State budgets have been hit hard and state leaders have faced tough choices about spending and the future of key programs. But while states have been on the downward spiral and tightened their belts, now they are facing a new problem - too much money.
According to the Rockefeller Institute of Government, state revenues rose 9.1% in the first quarter of 2011 with revenue increasing in each of the last five quarters (following a decline in the previous five). But it’s not all rainbows and puppy dogs...states are still down 3.1% from the same period three years ago. While some states are expecting to shift from deficit to surplus, leaders are cautious and seeking to put the money away for an uncertain future rather than restoring funding to reduced or cut programs.
Check out CNN Money for more state examples.