PROJECTIONS


These conclusions are drawn from Base Case eight-year projections of likely revenues and expenditures required in each state to maintain current public service levels (1) given current revenue structures, (2) given conservative estimates of expenditures, and (3) projecting average, or "normal," state economic conditions. Assuming state and local governments balance their budgets in year one, states are still likely to face substantial gaps between revenues and the resources required to maintain current service levels into the next decade. Despite generally improved fiscal conditions, long-term projections call for structural budget deficits in every state.


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