New Report: Almost Every State in Fiscal Trouble

 Want to know how much trouble your state is in financially? The Center for Budget and Policy Priorities website is loaded with information but it boils down to one word: grim.

"At least 43 states faced or are facing shortfalls in their budgets for this and/or next year," CBPP says in a new report. "Over half the states had already cut spending, used reserves, or raised revenues in order to adopt a balanced budget for the current fiscal year. Now, their budgets have fallen out of balance again."

Totaled up, states are $79 billion in the red this year and that figure could grow to $100 billion next year, economists say. As a result, states are being forced to make big cuts in education and social services, hurting children, the elderly and disabled Americans. At least 20 states are already making or are expected to make cuts in their workforce.

A full report is available online at www.cbpp.org.