States’ Budgets Seeing Red All Over

BY Chris Amico  January 12, 2010 at 4:15 PM EDT

“The state revenue nightmare continues,” says a recent report from the National Conference of State Legislatures.

Almost every state is facing a budget gap. In Oklahoma, the deficit is equal to 18.5% of the total budget. In California, Gov. Arnold Schwarzenegger declared another fiscal emergency, proposing to lay off state workers and slash services to close a $19.9-billion hole.

Here’s the breakdown of states’ budget deficits as of November (minus a few states where data weren’t available or they don’t have a deficit) according to the NCSL, (some states have seen their situation worsen since):

Map: Deficits Overwhelming State Budgets

We’ll have a closer look at six states’ budget situation on tonight’s show and we’ll have more on states’ budget problems later today on The Rundown. Stay tuned.

Update: The original version of this post contained a link to the National Conference of State Legislatures’ report we cited. The NCSL has since asked us to remove the link, since it is for sale on their Web site. You can purchase a copy here for $49.