States Are Hit Hard by Economic Downturn - washingtonpost.com

States Are Hit Hard by Economic Downturn - washingtonpost.com: "State budgets have been hit hard by a worsening national economy, including rising costs for energy and health care. In addition, fallout from the subprime mortgage crisis -- declining home sales, deflated property values and mounting foreclosures -- has caused a slide in states' anticipated tax receipts. Revenue from property taxes, sales taxes and real estate transfer taxes is affected."