![Nearly Half of States Expect to Confront Big Budget Gaps](http://townsquare.media/site/119/files/2015/05/money.jpg?w=980&q=75)
Nearly Half of States Expect to Confront Big Budget Gaps
The nation's economy is at its healthiest since the Great Recession, but 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 to call the trend a sort of "early warning."
Gabriel Petek is a credit analyst. He says if a state is grappling with a budget deficit now, after nearly six years of economic expansion, "what will be its condition when the next slowdown strikes?"
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