State Budget Cuts Loom as Federal Stimulus Dollars Dry Up

"Think states have made deep spending cuts?

You ain't seen nothing yet.States have been struggling with huge budget gaps since 2008, but this year could be worse as federal stimulus funds wind down.

Until now, stimulus money spared governors and state lawmakers from making some of the most brutal budget cuts. But with this lifeline running out, officials are looking at making significant cutbacks to public services, particularly schools and health programs."

money.cnn.com/2010/05/05/news/economy/state_budget_cuts/index.htm