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State's budget deficit biggest

State's budget deficit biggest

Oklahoma has an 18.5 percent shortfall, making it No. 1 in the U.S., a report says.

Tulsa World

By RANDY KREHBIEL World Staff Writer
Published: 12/20/2009 2:25 AM
Last Modified: 12/20/2009 4:06 AM

Only a few months removed from being declared "recession-proof" by the national press, Oklahoma faces the largest state budget deficit in the nation, according to a report by the National Conference of State Legislatures.

The NCSL's November update of state budgets says Oklahoma's 18.5 percent shortfall for the current fiscal year edges out Arizona's 18 percent, with Illinois in third at 16.5 percent.

All told, states pared $145.9 billion from their fiscal year 2010 budgets compared with 2009. For most states, the fiscal year begins on July 1.

In addition, 36 states have reported additional shortfalls for 2010 totaling $28.2 billion.

Through the first five months of the current fiscal year, Oklahoma's general revenue fund receipts are 28.5 percent below the same period ... FULL ARTICLE

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