At least twenty-five states, including several of the nation's largest, face budget shortfalls in fiscal year 2009. Of these 25 states, specific estimates are available for 20 states; the combined deficits of these 20 states are expected to total at least $34 billion for fiscal 2009 - which begins July 2008 in most states. Another 3 states expect budget problems in fiscal year 2010. |