Video: Fox News Channel Interviews Elizabeth McNichol on State Budget Troubles
May 22, 2009
"...A study from the Center on Budget and Policy Priorities reveals 47 of the 50 states are facing substantial budget gaps this year.... All told, the states are nearly $60 billion in the hole for 2009. Next year, the gap will grow to $133 billion. Experts say it won't get better at any time soon. Elizabeth McNichol: "We know from past recessions, which were milder, that even once the recession ends, state revenues remain depressed for two or three years."