Ohio Public Radio
4:01 am
Tue January 22, 2008

State revenue shortfall fears grow

Columbus, OH – Wall Street struggled to steady itself Tuesday, climbing back from an early plunge after the Federal Reserve implemented an emergency interest rate cut in hopes of restoring stability to a faltering U.S. economy. The Dow Jones industrials, down 465 points at the start of the session, recovered to a loss of more than 100 points. The plunge in the stock market is bad news for state government in Ohio. That means it could also turn out to be bad news for taxpayers, people who depend on state services, and others. Statehouse correspondent Bill Cohen reports.