Fiscal 2012 will become another difficult year for U.S. states facing huge budget deficits and dwindling tax revenues. According to The Center on Budget and Policy Priorities (CBPP), to date, 44 states and the District of Columbia are projecting budget shortfalls for fiscal year 2012, which begins July 1, 2011 in most states. These entities have an aggregate budget gap totaling some $125-billion. As a result, many states are planning to make deep spending cuts and slash hundreds of thousands of state jobs.
Here are the five states facing the biggest gaps for fiscal 2012: (data from CBPP)