Bad news on the budget front

We discussed the budget cuts and how revenue was coming below target in early February. Well, bad news: it is getting worse.budgetcalculator.jpg

  • We thought we were facing a $570 million deficit in 2017. Wrong. Current projections, after the most up to date revenue numbers, points a $911 million deficit.
  • It gets worse - for the current year (FY2016, ending this June) we are back tohaving a deficit - $266 million, to be exact.
  • Actually, it is even worse than that if you look at the next biennium (FY2018-19, after the election), with $2 billion a year deficits.

You can find more information herehere and here; the OFA projections are available here. Most of the money comes in April, so the numbers may improve, but it does not seem to be trending that way.

So - we are really going to see a budget battle now. Stay tuned.

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