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Although Utah's fiscal picture isn't entirely rosy, it is far better than what is happening in a lot of other states around the country. Give credit where credit is due: to a local economy that is better than most and state leaders who have made tough decisions in order to keep the state's budget in balance.
Yes, budgets have been cut, programs slashed and seemingly vital services reduced, or even curtailed. But that is far better than what is happening, for example, in California with its eye-popping $24 billion budget shortfall. It is reported that some 30 states began the July 1st fiscal year without budgets in place. Many of those states are experiencing a fiscal disaster.
Utah, too, faced a billion dollar revenue shortfall. But, lawmakers found a way to reduce spending by nearly 17-percent, preserve a $414 million dollar "rainy day fund," and maintain the state's vital Triple-A bond rating. Truly impressive!
The crisis, of course, isn't over. The nation's economic recovery is projected to be long and slow. More budget-trimming will likely be in order. For the state of Utah, however, even though the budget situation remains severely strained, the situation here is indeed much better than most.
