Many states are facing their greatest budget battles since the Great Recession. Illinois wins the prize for the biggest basket case economically, but there are a slew of other states teetering on the brink of fiscal collapse and lowered bond ratings. Some 33 states report lower revenues than initially projected which is the highest number of states to come up short since the Great Recession blew a huge hole in state budgets in 2010. Many cities, including Connecticut’s capital, Hartford, are considering bankruptcy. No one covers this beat like Steve Malanga, of the Manhattan Institute. He is often writing about this topic in their City Journal and the Wall Street Journal.
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