| | | GEOGRAPHIC REGIONS : NA, United States | | | | TOPICS : economy, politics, fiscal, government, policy, private sector, privatisation, public sector, regional, services, employment, growth, health, welfare | | | | SIGNIFICANCE : For the 38 states facing fiscal deficits, achieving balanced budgets in the current economic climate is exceptionally difficult, due to steep revenue shortfalls. Since rises in general taxation are often politically untenable and many states have strict borrowing limits, they face deep spending cuts; many public employees will lose their jobs, creating a renewed surge in unemployment and economic distres |
|