Includes “States are expected to balance their budgets every year. But that’s only part of the picture of how well revenue matches spending across all state activities. States’ own financial reports offer a broader look and reveal that eight states failed to amass enough total revenue to cover their expenses between fiscal years 2005 and 2019, the final year before the pandemic and recession.…” (Those 8 states were New Jersey, Illinois, Massachusetts, Hawaii, Kentucky, Maryland, New York, and Delaware.)
Read the full article on: Pew Charitable Trusts