Why Are States So Strapped for Cash? There Are Two Big Reasons

Why Are States So Strapped for Cash? There Are Two Big Reasons

It all comes down to Medicaid and public pensions. The portion of state and local tax revenues dedicated to these programs are at their highest since the 1960s. The amount of taxes allocated to these programs is strained even more by the skyrocketing number of baby boomers who are now receiving the benefits. They are consuming one out of every five dollars gathered by state and local governments.

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