"With one of the highest foreclosure rates in the U.S., it's no secret that Arizona has been awash in financial woes. But in Arizona, even the state government buildings are in hock.
That's one of the ways the state's Republican governor and GOP-controlled legislature have tried to deal with an unprecedented budget crisis. To help balance the budget, the state has borrowed against the very buildings where the legislature and governor work.
Budget nightmares are playing out across the country, where 43 states have cut services since the start of the recession, according to the Center on Budget Policy and Priorities, a Washington, D.C.- based organization that advocates greater spending on programs for the poor.
That includes Colorado, which will have bridged a $2.2 billion shortfall in the current budget year and faces a deficit of at least $1.3 billion next year."
That's one of the ways the state's Republican governor and GOP-controlled legislature have tried to deal with an unprecedented budget crisis. To help balance the budget, the state has borrowed against the very buildings where the legislature and governor work.
Budget nightmares are playing out across the country, where 43 states have cut services since the start of the recession, according to the Center on Budget Policy and Priorities, a Washington, D.C.- based organization that advocates greater spending on programs for the poor.
That includes Colorado, which will have bridged a $2.2 billion shortfall in the current budget year and faces a deficit of at least $1.3 billion next year."
