Monday, August 09, 2010

Ohio's Budget: Steady Fiscal Control in Turbulent Times

According to OBM Director Pari Sabety's presentation:

  • The United States is recovering from the deepest recession in 50 years
  • Economic recovery will be slow
  • States and local governments continue to need federal assistance and fiscal relief
  • Current projections from Moody’s show that key economic indicators will not recover to pre-2007 levels until 2013-2016
One of the main issues in crafting the 2012-2013 budget is how to fill the projected gap from one-time funding sources -which is between 6-8 billion dollars.

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