state budget cuts

Balancing the budget isn't just a federal problem -- it's a state one, too. The Great Recession resulted in some of the lowest state revenues in years, and some of the biggest budget shortfalls ever -- in some cases, into the billions of dollars.

The debt-ceiling discussions may be over, but the fallout for states is just starting. Many states, still struggling to recover to pre-recession levels, have depended on federal money to make up their shortfalls. As the flow of money slows, which states will take the biggest hits?

While Amazon sucked up most of the air in book publishing circles this week, both Scholastic and McGraw-Hill quietly posted encouraging earnings reports, with promising signs of good tidings over the next three months.

It's funny how government budget cuts trickle down to everyday people. I live in California, which ranks second on U.S. News & World Report's "pain index" of states that have suffered the biggest budget pains and have been forced to institute both tax increases and spending cuts. I can say...

In a sparsely furnished cubicle somewhere, a telephone rings. A woman's concerned voice on the phone pleads to a specialist for assistance. She needs to know if her child will succumb to poisoning after eating a large volume of toothpaste. She is calmed by the helpful person who answered the phone,...