GAO: Without Action, States' Fiscal Position Will Worsen Through 2060
To prevent deficits, states and localities would have to reduce expenditures or increase revenues by about 12.5 percent.
A new report from the Government Accountability Office offers a stark warning to state and local governments: Absent policy changes, their financial situation will continue to decline and they'll face deficits for at least 50 years.
Though the projection is dire, it's unlikely to actually happen, as most state and local governments are required to balance their budgets. But the report does serve to underscore the size of the fiscal hurdles facing state and local governments.
Join the Discussion
After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.
Why Water in Schools Is So Susceptible to Lead Poisoning10 hours ago
Outside DNC, Philadelphia Takes Down Mississippi's Flag2 hours ago
Virginia Governor Promises to Circumvent Court Orders to Revoke Felons' Voting Rights3 hours ago
Facing Lawsuit, Texas Eases Birth Certificate Policy for U.S.-Born Children of Immigrants3 hours ago
Alaska's Parent-Notification Abortion Law Ruled Unconstitutional4 hours ago
Denied Medical Care, Sick Prisoners Sue Tennessee Officials4 hours ago