The recent article in the New York Times "Surpluses Help, but Fiscal Woes for States Go On" is an interesting read that explains the causes of the surpluses and their possible one-off nature, and the ongoing issues surrounding underfunded state pension and health obligations. The bottom line is while these one-off surpluses are better news than continuing deficits, state legislators should exercise restraint and focus on long-term fiscal issues, such as massively under-funded pension plans and rising health care costs. Here's the link: http://www.nytimes.com/2013/06/01/us/surpluses-help-but-fiscal-woes-for-states-go-on.html?
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