Gov. Rick Scott, who in his first year axed $615 million of what he called "short-sighted, frivolous, wasteful spending," was lavish in his praise of the 2014-15 budget.
It's the sixth month in a row revenues haven't hit budget targets, leaving state government $532.5 million short for the fiscal year-to-date.
U.S. Bankruptcy Judge Joan A. Lloyd ruled the Louisville-based mental health agency can ditch the pension system and its rapidly escalating costs through the bankruptcy process. Kentucky Retirement Systems, which oversees the main pension plan for state workers, wanted the court to force Seven Counties to keep paying into the system.
Headlines: New Jersey
Gov. Chris Christie's plan to cut funding for public-worker pensions means New Jersey's debt could be downgraded again sometime in the next three months, a Wall Street credit-rating agency said today in a note to investors.
With unfunded liabilities on government pensions somewhere between $11.5 billion and $44.1 billion, the Legislature watered down and passed a bill that took small steps at reform.
Headlines: Rhode Island
Rhode Island has become an expert on propping up a random assortment of small businesses.
Despite talk of belt-tightening, state spending is set to rise 2.4 percent next year, up 23 percent since Markell signed his first budget in mid-2009.
Headlines: New York
The state takes in $3.2 billion from gaming annually, the highest in the nation -- more than California and Florida combined.
If implemented, Senate Bill 1 lighten Illinois' load by 25 percent, but the state would still be responsible for $78.9 billion in pension debt. Senate Bill 1 includes a schedule to fully fund the state's retirement systems by 2045.
The Louisiana House gave final passage Friday to a $24.6 billion budget to finance state government operations next year, agreeing to the version written by the Senate.