Taxes collected by the fifty states fell a collective 11.7% in the first quarter of 2009 versus the first quarter of 2008. That’s the largest quarterly decline since 1962 when the government started keeping this statistic. You don’t need much more information to understand how desperate is the shape of state finances.
Here’s a table from the New York Times that will let you check out your state.
I’m not sure that credentials mean much when it comes to writing about things but people seem to want to see them, so briefly here are mine. I have an undergraduate degree in economics from an undistinguished Midwestern university and masters in international business from an equally undistinguished Southwestern University. I spent a number of years working for large banks lending to lots of different industries. For the past few years, I’ve been engaged in real estate finance – primarily for commercial projects. Like a lot of other finance guys, I’m looking for a job at this point in time.
Given all of that, I suggest that you take what I write with the appropriate grain of salt. I try and figure out what’s behind the news but suspect that I’m often delusional. Nevertheless, I keep throwing things out there and occasionally it sticks. I do read the comments that readers leave and to the extent I can reply to them. I also reply to all emails so feel free to contact me if you want to discuss something at more length. Oh, I also have a very thick skin, so if you disagree feel free to say so.
Enjoy what I write and let me know when I’m off base – I probably won’t agree with you but don’t be shy.
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