Focus Newsletter State budgets vulnerable to economic slowdown, forecast error

July 29, 2016  •  No. 14
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  • Summary
  • Stable budgets depend on economic growth and accurate revenue forecasts. If a state lacks emergency reserves, an economic or political shock can lead to a deficit. New “Fed” estimates suggest a softening economy. A national survey shows that 21 states with 2015 savings equal to 10% or more of annual expenditures are at least fiscal risk. Wisconsin (2.7%) was one of six states with the smallest reserves.

     

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