A look at the most important budget-related news and information from the 50 states:
Roll Call (subscription required): points out the 50 states and Puerto Rico face more than $90 billion in cumulative deficits for fiscal year 2011. 31 states are already predicting deficits for fiscal year 2012.
Springfield, IL State Journal-Register: Moody’s downgraded Illinois’ bond rating because of a continued decline in revenues and an increase in the state’s debt burden.
Denver Post: Why do state’s have such horrible deficits? Well, in part, because of generous salaries and retirement benefits, but also because of luxury trips taken by execs at “quasi-government agencies.”
