The “R” word for recession is increasingly on the minds of many currently debating adoption of a new two-year state budget for Washington.
The online news source The Lens has taken a look at how prepared the state would be to avoid deep spending cuts should a recession come about in a few years. The piece examines the question from the perspective of how large the state savings account would be depending upon whether new taxes are passed during the current Legislative session.
Put simply, the larger the state’s savings account, the better able it would be to avoid the deep cuts in state government spending that occurred when the last recession took hold in 2008.
The piece is here.