The National Conference of State Legislatures budget update shows Wisconsin to have a $3.1 billion deficit for FY 2010. Which is about 20% of the budget.
Here is the Financial Times interactive map on state budget deficits.
If you click through, you will see that WI joins CA, AZ, NV, FL as being deep in the red. These states were some of the hardest hit by the drop in home prices.
While I am sure WI has been affected by falling home prices, it can't be to the extent of these four states, can it? How then have we gained membership in this budgetary rogue's gallery?
H/T @tac blog