why these states are in trouble:
States-in-Worst-Budget-Trouble: Personal Finance News from Yahoo! Finance
Rhode Island's economy has been weakened by its housing market, one of the worst in the nation. Lawmakers closed a $430 million shortfall in their budget with cuts to the public college system and aid for municipalities, as well as tighter limits on welfare benefits. But it hasn't yet filled the midyear gap.
actually, the report i saw did not have wisconsin in the top 10 or even the top 20, but wisconsin regularly overspends and has budget shortfalls. i guess that report was just states with the most looming budget problems, although most states now have significant budget problems.
everyone acts surprised that revenues are down, but that is what happens when the jobs are destroyed. the government touts a jobless recovery but they are overlooking the fact that their own revenue is derived from a working TAXPAYING population so maybe they better start rethinking this "jobless" recovery before they all lose their jobs too. government cannot replace the private sector and expect a happy ending.
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