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State Budget Nationally and in Massachusetts
Finance & Accounting
Pages 4 (1004 words)
State Budget Cuts Nationally and In Massachusetts Table of Contents Overview 3 How Had Massachusetts Dealt With Fiscal Problems in the Last Couple of Years 4 Effect of Resident Preferences on the State and Local Budgets 6 Works Cited 8 Bibliography 9 Overview The most recent financial recession started from the end of the year 2007 and lasted till the mid of 2009.
The budget cuts ratified in no less than 46 states in addition to the District of Columbia ever since 2008, have been executed in all main sections of state services. The state services where the budget cut have been incurred include the health care segment in around 31 states, primary education segment in 34 states as well as the District of Columbia, higher education segment in 43 states, and services to the old as well as disabled in 29 states in addition to the District of Columbia among other areas. The States have made these budget cuts for the reason that revenues earned by the States from income taxes as well as sales taxes, in addition to other revenue resources used to compensate for the above discussed state services decreased owing to the recession. Simultaneously, the requirement for these state services did not reduce and, in reality, the requirement got elevated as the number of people encountering economic complexities amplified (Johnson & Et. Al., “An Update on State Budget Cuts At Least 46 States Have Imposed Cuts That Hurt Vulnerable Residents and the Economy”). ...
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