MyNotes - Revenue Level Dip
A new era of innovation for the states? By Dan Balz Washington Post Staff Writer Saturday, December 25, 2010; 9:28 PM
During 2009-10, states saw their revenues decline for five quarters, once by 16.8 percent. "You basically had revenues fall off a cliff," he said. "The financial meltdown and the great recession ...
history shows that for the states, the worst times come in years one, two and three after the recession ends. Scheppach said states would probably not return to revenue levels they enjoyed in 2008 ...
no alternative to major cuts in education funding by the states. Higher education has already felt the pinch, but that is likely to extend to elementary and secondary funding, as well.
'We are in a different growth path. How do we redesign the programs, from prisons to elementary and secondary to pensions?' . . . In that way it's a watershed."
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