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Report On U.S. State Budgets Says Belt-Tightening Isn't Over Jan 12

  • ID: 2038826
  • January 2012
  • Region: United States
  • Standard & Poors
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  • Alabama
  • Florida
  • Kentucky
  • Missouri
  • North Carolina
  • State of Washington
  • MORE

NEW YORK (Standard & Poor's) Jan. 5, 2012-- Although the Great Recession is long over, it appears that austerity is here to stay for U.S. states, Standard & Poor's Ratings Services says in a report, "For U.S. State Budgets, Austerity Is Here To Stay," published today. "Despite a steady pace of economic recovery for most states through the first two quarters of fiscal 2012, we believe that economic prospects and federal fiscal consolidation present significant uncertainty that could translate into continued budget austerity," the report says. "Most governments have transitioned to a post-federal stimulus environment by making what we consider to be very difficult spending and revenue adjustments. This focus on budget alignment has translated to relative credit stability for...

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Research type: News
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