Maybe Maryland should join a support group. We’re certainly not alone when it comes to our tight financial situation, but one major financial player doesn’t think it will be as bad as it might look
In a report issued Tuesday, Standard & Poor’s says government budgets for fiscal 2008 and the upcoming fiscal 2009 are struggling along with the housing and credit markets.
Some findings, courtesy of the report:
- “Broad-based taxes are unlikely; gaming revenues remain popular” (don’t forget to vote in November, people)
- “Spending reductions are substantial across many areas” (cut, cut, cut)
- “Tax relief remains a major theme” (computer services, anyone?)
Still, S&P wrote that it expects most states to have sufficient reserves to get through the tough times. S&P’s bond rating unit showed some confidence in Maryland when it maintained the state’s treasured AAA bond rating last month.
So what do you think Maryland has in common with the rest of the struggling states? What are we doing better or worse?
