The States: Where the Money Comes From

Arriving at their desks in Albany last week, New York state legislators were confronted with a blue-and-white 1,039-page volume that could best be described as imposing. It imposed on New York taxpayers a 1967 budget of nearly $4.7 billion, biggest ever proposed for any state in the Union. The same tableau, with only slight variations, was repeated in statehouses across the country. For if January is the season of inauguration euphoria and soaring phrases, February is the time of budgetary reality and boring figures.

Despite the size of his ninth budget—$644 million above...

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