A new report shows that next year states are expected to see their general fund revenues increase to pre-recession levels next year.
But as the authors note, state spending doesn’t appear to be keeping up.
Consequently, state budgets reflect a national economy in which growth is slow and not as robust as in previous recoveries, yet overall state fiscal improvement is occurring.
The report comes from the National Governors Association and the National Association of State Budget Officers.
Here’s a good synopsis courtesy of the nonpartisan media organization Governing that also includes a chart showing changes in expenditures from Fiscal Year 2011 to 2012, and the expected expenditures from FY 2012 to 2013.
—Nick Grube
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