SMHA Budget Shortfalls: FY 2009, 2010, 2011.

December, 2008 This report, released December 5th, 2008, was published by The National Research Institute. According to a report from the National Conference on State Legislatures, 41 states are facing budget shortfalls in 2009. States closed a cumulative gap of nearly $40 billion in preparation for the Fiscal Year 2009 budget. Since that budget was completed, states face an additional gap of $30 billion. Half of the states project a cumulative shortfall of $63.7 billion for 2010. States are experiencing budget shortfalls mainly because increased unemployment and reduced consumer spending are limiting tax revenues. States have requested an economic . . .