Maine Not Unique in Facing Revenue Shortfalls ; Two-Thirds of States Are in the Same Boat, and Must Figure Out How to Plug the Leaks.

Portland Press Herald › July 07, 2009

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Summary

If a rising tide lifts all boats, what does a falling tide do?

Many states are finding out, now that what once appeared to be a nearly uninterrupted series of tax revenue increases in recent decades has become instead a decline with no visible stopping point.

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Extract

Maine Not Unique in Facing Revenue Shortfalls ; Two-Thirds of States Are in the Same Boat, and Must Figure Out How to Plug the Leaks.

California's $26.3 billion deficit, itself larger than the budgets of some smaller members of the United Nations, has been getting a...

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