New Report Cites Fiscal Outlook For States
They say "The Great Recession" has become "The Great Uncertainty" for states across America.
That's according to the National Conference of State Legislatures. The group is holding its 2012 Legislative Summit in Chicago this week. NCSL Spokesman Todd Haggerty says their state budget update shows that many states are improving their fiscal status by clamping down on spending.
He adds that state budget gaps are becoming increasingly rare. He cites Indiana as one of the more fiscally healthy states. However, Haggerty says states still remain subject to worldwide economic shocks. He says examples include the federal budget and Medicaid spending.
In response to the report, Indiana Fiscal Policy Institute's John Ketzenberger says he believes Indiana is in pretty good shape and the nation appears to be recovering. However, he echoes the caution also cited in the report. Kentzenberger says shaky confidence about the economy remains an issue itself.