Surpluses in U.S. States Leave Governors Exercising Restraint
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U.S. governors, many flush with surpluses following years of austerity, say they won’t make the mistake of overspending as they face re-election in less than nine months.
After emerging from an era of cuts, firings and tax increases that sparked clashes in state capitals, Democrat and Republican leaders said at a conference in Washington they’re reluctant to make commitments that may hit them with deficits again if the economy stalls.