Health & Fitness
Federal Austerity May Trickle Down
While the impact is not likely to be immediate or particularly widespread, federal austerity—sequester-related and otherwise—could affect state and local governments.
34%: Approximate amount of state revenues from federal aid
While the impact is not likely to be immediate or particularly widespread, federal austerity—sequester-related and otherwise—could affect state and local governments. According to the National Association of State Budget Officers, roughly 34% of state revenues come from federal aid. As long-term solutions for a larger budget deal are pushed further down the road, programs directly affecting state and local governments (and not currently targeted for cuts) could eventually be included in any deficit-reduction deal. In addition to any cuts in this direct federal aid, reductions in defense spending or federal employment could also have adverse effects on state and local economies.
To read more on the fiscal condition of state and local governments, read this special report.
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Source: BlackRock, March 2013
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Prepared by BlackRock
Delivered courtesy Joel W. Grams, CRPC®, CLTC,
Registered Representative, Financial Planner, 212 Capital Group
38 Main Street Suite 360, Westlake Ohio 44145
(440) 835-4501 Ext 17, jgrams@212capitalgroup.com
The foregoing discussion is general in nature and not intended as specific advice.
New England Financial nor its representatives are engaged in rendering tax,
accounting or legal advice. A qualified professional should be consulted regarding the effect of such considerations on the matters covered in this publication.
For information on New England Financial insurance or other financial products and services, please contact Joel W. Grams, CRPC®, CLTC, Registered
Representative, Financial Planner with /New England Financial 38 Main Street Suite 360, Westlake, OH 44145, at (440) 835-4501 ext. 17, jgrams@212capitalgroup.com
New England Financial is the registered mark for New England Life Insurance Company (NELICO) Boston, MA 02116. Securities and investment advisory services offered through New England Securities, Corp. (NES)(member FINRA/SIPC) a Registered Investment Advisor. NELICO and NES are MetLife companies. L0313314836[exp1213][OH]