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December 21, 2009

Oklahoma has biggest deficit among states

TULSA, Okla. (AP) — A new report says Oklahoma has the greatest revenue shortfall of any state.



The report by the National Conference of State Legislators says Oklahoma's 18.5 percent shortfall for the present fiscal year is greater than second-place Arizona's 18 percent.



Five months into the fiscal year, Oklahoma's general revenue fund collections are 28.5 percent less than a year ago. The fund is also 24.3 percent below projections. That amounts to a shortfall of $577.5 million.



Oklahoma had already ordered a 5 percent budget cut for state agencies. Last week, the state followed that up with a 10 percent cut.



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Information from: Tulsa World, http://www.tulsaworld.com

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