HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » US states inch closer to ...
Introducing Discussionist: A new forum by the creators of DU

Fri Dec 14, 2012, 12:16 AM

US states inch closer to pre-recession prosperity

US states inch closer to pre-recession prosperity

Dec 14 (Reuters) - U.S. states are coming close to the end of a three-year trek back to the financial prosperity they enjoyed before the recession, according to a survey released on Friday that found the recovery is slow and uneven.

The National Association of State Budget Officers and National Governors Association found that total state spending will likely rise 2.2 percent this fiscal year from last, while general fund revenues grow 3.9 percent to $692.8 billion.

Meanwhile, states' primary tax sources will likely rise in fiscal 2013, with personal income tax collections projected to increase 5.5 percent and sales tax collections 2.8 percent. For most states, fiscal 2013 began on July 1.

"The direction is encouraging, but it's still very slow growth," said NGA Executive Director Dan Crippen. "We would despair if it were going down, but we aren't dancing in the streets because it's going up modestly."

Average revenue growth over the past 35 years of the survey has been 5.6 percent, and fiscal 2012's increase in revenue was 3.4 percent.

http://www.reuters.com/article/2012/12/14/usa-states-budgets-idUSL1E8NDC6U20121214

3 replies, 449 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 3 replies Author Time Post
Reply US states inch closer to pre-recession prosperity (Original post)
The Straight Story Dec 2012 OP
JaneyVee Dec 2012 #1
RC Dec 2012 #2
FightForMichigan Dec 2012 #3

Response to The Straight Story (Original post)

Fri Dec 14, 2012, 12:24 AM

1. Ah yes, back to the good ole pre-recession days.

Back when we were spiraling towards the recession.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to The Straight Story (Original post)

Fri Dec 14, 2012, 12:38 AM

2. Yeah, too bad the pay is not spiraling back to pre-recession levels.

 

Reply to this post

Back to top Alert abuse Link here Permalink


Response to The Straight Story (Original post)

Fri Dec 14, 2012, 12:46 AM

3. Ha ha

Not my state.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread