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State governments generally do not without some creative accounting. Most states have "balanced budget" requirements, although they're allowed to issue bonds -
by YokoZar 11y ago
State governments generally do not without some creative accounting. Most states have "balanced budget" requirements, although they're allowed to issue bonds - provided said bonds are specifically earmarked for specific programs, and in some cases approved through a separate process like a referendum.
- saryant 11y agoSome states also have rainy day funds they can tap into if they have an unexpected revenue shortfall.