We discussed the budget cuts and how revenue was coming below target in early February. Well, bad news: it is getting worse.
- 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.
So - we are really going to see a budget battle now. Stay tuned.