2013 Is a Good Year to Repair (if Not Replenish) State Rainy Day Funds (CBPP)

EXCERPT:

January 15, 2013 – The last decade’s roller-coaster economy has highlighted the importance of state “rainy day funds” — budget reserves for when recessions or other unexpected events cause revenue declines or spending increases.  States with rainy day funds were able to avert over $20 billion in cuts to services and/or tax increases in the recession of the early 2000s. Rainy day funds also helped states avoid service cuts and tax increases in the most recent recession. States would have weathered the storms better if those funds had been bigger.

Link to Full Article: http://www.cbpp.org/cms/index.cfm?fa=view&id=3887

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s