Re: Obama XIII: It's all Bush's fault.
Of course it's important to keep in mind that these are the shortfalls before the budgets are fixed. We've had really bad shortfalls here in AZ the last few years, but each year they, at least eventually, pass a budget that balances for that year. Admittedly they use a little slight of hand/accounting gimmicks, but fundamentally it's balanced at the end of the year. So, no comparison to the out-of-control federal budget where 41% of spending has no revenue to back it up.
http://www.cbpp.org/cms/?fa=view&id=711
List of the states and their budget shortfalls are contained here.
CA's shortfall was over 50% of the budget in FY '10. FY '11 numbers are incomplete, so the number given in the chart is not accurate; according to other sources, it's approaching $30 billion. IL's shortfalls are also comically high - approaching 50% for 3 straight years (FY '10, '11, and '12). Arizona and Nevada both have awful percentages as well. Note: a majority of states are < 20%.
Of course it's important to keep in mind that these are the shortfalls before the budgets are fixed. We've had really bad shortfalls here in AZ the last few years, but each year they, at least eventually, pass a budget that balances for that year. Admittedly they use a little slight of hand/accounting gimmicks, but fundamentally it's balanced at the end of the year. So, no comparison to the out-of-control federal budget where 41% of spending has no revenue to back it up.