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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Dec 12, 1982
Page
4
A U S D A outlook report notes China’s agricultural imports have slowed after rapid growth since 1978. Grain and cotton imports have declined, soybeans and related products show little recovery, while policy favors cash crops over food grains and import substitution trends emerge.
A combined survey by the National Governors Association and the National Association of State Budget Officers reports 25 states collectively run about 2 billion dollars behind expected revenues for the current fiscal year. States cut spending and raise taxes but still face shortfalls, with 19 states lowering income estimates and 25 cutting expenditures amid recession effects. The Sunbelt is affected as severance tax revenue declines from lower oil demand and prices.
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