State revenues fell 16% in fiscal 2008 to almost $1.7T, even as spending increased 6.2%, the...

|By:, SA News Editor

State revenues fell 16% in fiscal 2008 to almost $1.7T, even as spending increased 6.2%, the Census Bureau says. The biggest drop (73%) came in "insurance trust" revenue - public employee retirement systems, unemployment and worker compensation mostly financed with payroll taxes and worker contributions.