State and Local Governments Cutting More Spending?

State and local governments have been and will continue to drastically cut spending to attempt to close large budget gaps. These cuts in spending have reduced economic growth for the last fiscal quarter of 2010, and appear to continue dragging down growth through the first fiscal quarter of 2011. There are several ways that cuts in state and local spending affect economic growth. Specifically, cuts in education programs. These layoffs and other job losses, as well as cuts in benefit and spending programs may also negatively impact long term growth. Additionally, job losses and cuts in benefit programs impact the ability to spend. To learn more about this article, visit State budget cuts, at a glance .

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