WHAT SHALL WE DO WITH THE SURLPUSES?:

Marking a milestone in the economy's recovery, states are now collectively boosting their cash reserves to the highest levels since 2008, giving lawmakers the rare luxury of arguing over how to use the cash.

During the recession and subsequent years of sluggish growth, state governments raided their so-called rainy-day funds and slashed spending deeply to plug budget gaps caused by falling tax receipts.

Now, with revenue rebounding along with housing values and employment, most states are breaking even or running small surpluses.

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