Mississippi one of many states refilling reserves after the recession
States starting to turn the corner on their Great Recession budget woes are taking the cautious approach, socking away millions of dollars in rainy day funds rather than restoring spending for education, health care and social services.
At least 21 states, including Arizona, Michigan and Ohio, are putting parts of their surpluses into reserves, an approach 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.
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Mississippi’s new budget socks away $200 million in reserves. Democratic state Rep. Cecil Brown tried unsuccessfully to increase K-12 education spending, saying it didn’t make sense to put $200 million in reserves when the state’s education formula was short $250 million.
AP
6/19/12
Magnolia Tribune
