WASHINGTON — State rainy-day funds plunged by 70% or $21.3 billion from fiscal 2006 to fiscal 2010, underscoring how depleted state funding cushions have gotten as they prepare fiscal 2012 budgets without federal stimulus aid, according to a report released Thursday.

The funds totaled only $8.9 billion at the end of fiscal 2010 in July, way down from $30.3 billion in fiscal 2006, according to the report issued by the Center on Budget and Policy Priorities.

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