Despite warnings about steep budget cuts, state and local governments maintained level spending in 2009 as federal stimulus money came to the rescue...
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...Overall state and local spending inched up 0.1% to $2.2 trillion in 2009, the Bureau of Economic Analysis reports.  [States’] Revenue [(Includes federal stimulus funds.)] increased 0.9% for the year.

The federal stimulus package made the difference, pumping enough money into states, cities and school districts to offset a sharp drop in tax revenue.  The fourth quarter was the best of the year as revenue climbed 2.6% because of a rush of stimulus money and a slowdown in tax declines.

Posted by: Old Grouch in In Passing at 17:20:03 GMT | No Comments | Add Comment
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