Budget turnarounds: Some states socking cash away

By: Associated Press Email
By: Associated Press Email

States starting to turn the corner on their Great Recession budget woes are taking the cautious approach.

At least 21 states, including Arizona, Michigan and Ohio, are socking away millions of dollars in rainy day funds rather than restoring spending for education, health care and social services.

It's an approach being championed mostly by Republican governors and lawmakers who say the return of revenues to pre-recession levels doesn't mean it's time to spend.

Some experts say putting money away is premature since spending hasn't been restored to important programs. Others say states don't want to overcommit in a sluggish economy.

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