Information from Kiplinger's November Newsletter
About three dozen state governments are facing big revenue shortfalls. That'll force them to rework their budgets in Jan. and Feb., about halfway through their 2010 fiscal years. Combined, the states will come up 4% short... need to find $17 billion more in savings or revenues than expected last summer. States with the deepest holes to dig out of are:
· AZ: $2 billion shortfall 19% budget gap
· VA: $2 billion shortfall; 9% budget gap
· KY: $1 billion shortfall; 11% budget gap
· NM: $660 million shortfall: 12% budget gap
· CO: $561 million; 12% budget gap