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June 5, 2007

Report: RI was one of three states that cut budget

Rhode Island was one of only three states that cut its budget this year.

A report by the nation's governors says nearly every other state increased spending. Only Michigan and Wisconsin also cut their budgets.

The report says most other states spent freely -- and spending was up 8.6 percent nationally over the previous year. That's compared to 6.5 percent growth on average over the past three decades.

Most states were able to spend more because revenues came in stronger than expected and have for the last several years.

Rhode Island is facing a $450-million budget shortfall for this fiscal year and the next.

Today's survey comes from the National Governors Association and the National Association of State Budget Officers.

-- The Associated Press

Posted by Mike McKinney  at 4:16 PM | Permalink

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