Connecticut and New York are among 10 states that have spent more than they’ve taken in on average over the past 15 years. That’s the finding of a study from the Pew Charitable Trusts.
The study measured total revenue as a share of total expenses in state budgets since 2003. In Connecticut revenue was just under 97 percent of expenses, and in New York it was just under 99 percent.
Both states have seen deficits in at least 10 out of the last 15 years. But neither state had the largest shortfall – that goes to New Jersey, where revenue was just about 91 percent of expenses. Pew says only one state – Montana – hasn’t had at least one budget shortfall since 2003.
