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April 26, 2004
 Many States Cut Budgets as
Fiscal Squeeze Continues
State government
continues to shrink as states struggle to deal with the lingering
state fiscal crisis. States cut expenditures over the last three
years as they filled budget gaps that totaled about $250 billion.
Despite the turnaround in the national economy, many states
continue to face gaps in their fiscal year 2005 budgets. States
remain reluctant to raise taxes and are running out of short-term
fixes; they are once again turning to spending cuts to close those
gaps.
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