Surplus During the Recession

Q: What does it take to have a surplus coming out of the Great Recession?

A: Oil.

Alaska is one state that has seen those benefits. The state has a $2.2 billion budget surplus thanks to higher oil prices; that will likely help the state bounce back from the recession quicker than most states.

Meanwhile, some states see losses in tax revenue at greater amounts than expected. Delaware, for one, expects only its personal income tax to return to its peak year of collections by 2014, according to a five-year forecast by the Delaware Economic and Advisory Council.