U.S. Fiscal Risk Digest

State & Local Fiscal Crises Widespread

State & Local Fiscal Crises Widespread

Structural deficits across states and cities: DC $837M cliff, Minneapolis $30M deficit, Oregon Medicaid $421M hole, Chicago Public Schools zero cash reserves, San Antonio $158M deficit. NASBO survey shows declining balances; only 26 states stable. New Hampshire relies on one-time amnesty. Colorado SNAP error rate could cost $180M-$210M/yr.

Sources (3)
Updated Aug 4, 2026