States' Budget & Tax Picture exceeds projections

According to the National Association of State Legislature's State Budget & Tax Actions 2005: Preliminary Report: "State finances improved during FY 2005, substantially eclipsing policymakers' expectations entering the fiscal year. Year-end balances were twice as high as expected and overall budget stress eased."

Washington State is about average with between 5% and 10% of its annual budget in a rainy day account. Federal aid and reduced spending are the two biggest factors in this picture.

So much for unfunded mandates....