Monday, March 08, 2010

States Going Belly Up Part 7

New Hampshire -
The state saw 352 foreclosure deeds in January, a record for that month and the second most ever, just seven behind the 359 of last October, according to statistics compiled by the New Hampshire Housing Finance Authority.
Florida -
...the state faces a gap of $1.1 billion and $3.2 billion between expected revenues and projected spending. The precise figure will be known later in the just-started legislative session, when the Revenue Estimating Conference meets and fiscal forecasters know more about what the state can expect in federal revenues or sources like a Seminole casino compact that is pending before the Legislature.

Cretul said the gap could grow as high as $5 billion when federal stimulus money runs out next year.
North Carolina -
State revenue collections were off by $35 million through the first seven months of the government’s fiscal year as consumers continued to sit on the sidelines, a new General Assembly economic forecast says.

The revenue gap on the state’s $11 billion collection target would have been wider had it not been for a special corporate income collections effort on the part of the Department of Revenue, which brought in $472 million, $272 million more than anticipated. What lies ahead for North Carolina, says the report’s author, General Assembly fiscal researcher Barry Boardman, depends how fast “the sluggish economic recovery” is able to take hold.
'Whew, we squeezed the taxpayers harder and dodged a bullet there.' Now what? Oh right, the nonexistent recovery.

Idaho -
Idaho has missed its tax revenue forecasts by a combined $41 million since December. House leaders confirmed that revenue fell more than $15 million short of February's targets. If revenue through June 30 falls short of forecasts by more than $69 million, it would put Idaho's already-austere spending plan for 2010 into a deficit.

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