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Nearly half of states expect to confront big budget gaps

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With the nation’s economy at its healthiest since the Great Recession, a surprising trend is emerging among the states – large budget gaps. An Associated Press analysis of statehouse finances around the country shows that at least 22 states project shortfalls for the coming fiscal year. The deficits recall recession-era anxiety about plunging tax revenue and deep cuts to education, social services and other government-funded programs. The sheer number of states facing budget gaps prompted Standard & Poor’s Ratings Service…

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