Friday, August 19, 2011

Uh-Oh...Virginia is #2 on List of 50 States in Relying on Federal Funding

From The Washington Post:
"The debt-ceiling deal promises that major federal spending cuts are coming, whether or not the congressional "supercommittee" comes up with a deal.  Big federal cuts will invariably squeeze the states, which rely on fereal funds for roughly a third of their spending.  And states that rely most heavily on federal funding could be hit hardest by the Budget Control Act." [ added italics]
The article also notes that states with most reliance on federal spending could also see credit ratings cut--Moody's has already put Virginia on notice.

Read the full article here.  Get the US Census Bureau report in pdf.  Image below is from report.

Click on image for new, larger version in another window.

1 comment:

Art Nesten said...

On the plus side, there's a decent degree for enthusiasm for Buy Local, especially for food.

Hopefully this trend will continue so that our communities will become more robust.