State Budgets

The National Association of State Budget Officers (NASBO) released the Spring 2016 “Fiscal Survey of States” report. The report indicates that, for the first time, estimated state general fund spending and revenues in fiscal 2016 surpassed their fiscal 2008, pre-recession peak levels after adjusting for inflation. However, the progress has been uneven across states and long-term spending pressures remain in areas such as health care, education, pensions, and infrastructure.