AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Ashrinking revenue base and increased demand for public services has made the need to prioritize government services critical the last few years. The federal budget has gone from a $127 billion surplus in fiscal 2001 to an estimated $480 billion deficit in fiscal 2004 because of the recession, ongoing military actions, and expansionary fiscal policy. (1)
While the federal government can run a deficit, state governments must maintain a balanced budget. Despite ongoing spending reductions and a host of revenue measures, the states' yearend balances decreased from a combined total of $38 billion in fiscal 2001 to an estimated $16 billion in fiscal 2004. (2) States ...