Labels:book | reckoner | sky OCR: government spending. Council of State Governments The Book the States 1992 6 368 (1992}. Yet having dedicated large portion of their revenue to educational spending, most state governments now facing theit worst financial crisis r decades are paddinbo-ll! shoulder the extra cost funding for inappropriate placements The state of the states fiscal health may have reached new low-water mark last year: fiscal year 1992 states reported that tax collections fell below the projections used tc make up their budgets: 29 states raised taxes and states were forced cut spending least $5 billion levels initially panordde 1992 Chris Pipho Fiscat Gridtock, Educational Finance, Feb 1993 430 Additionally state government indebtedness the pua of fiseal year 1990 totaled $318.3 billion, up percent from the p ...