fiscal conditions

fiscal conditions

Report: State Budgeting and Lessons Learned from the Economic Downturn

Lessons Learned Report Cover
July 31, 2013

NASBO is pleased to release a report, supported by a grant from the John D. and Catherine T. MacArthur Foundation, that highlights and discusses lessons learned by budget officers during the recent recession. States turned to a variety of actions to stabilize state budgets in this challenging and uncertain fiscal environment.

Outlook for Fiscal 2014 Appropriations

Going into July, House and Senate appropriators have already advanced several fiscal 2014 spending bills. The House has so far passed spending bills for Homeland Security (HR 2216) and Military Construction-Veterans Affairs (MilConVA) (HR 2217), two of the least controversial measures. In addition, the House Appropriations Committee has approved fiscal 2014 spending bills for Defense (HR 2397), Agriculture (HR 2410), Energy and Water, and Transportation-Housing and Urban Development (HUD).

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Fiscal Survey of States, Spring 2013

After several years of slow recovery in the national economy, fiscal distress is finally beginning to subside for most states. However, the unemployment rate continues to remain high and the economic recovery is relatively weak compared to other post-recessionary periods. Thus, state operating budgets likely will be constrained by elevated expenditure pressures and slow revenue growth in the upcoming fiscal year.

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