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By Anonymous Mike, pseudonymously.



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Tuesday, September 23, 2008
 
The Budget Blast

Back when the FY2009 budget passed, Senate Appropriations Bob Burns was quoted in the Capitol Times as saying the starting point for the FY2010 budget was a $1 billion+ deficit. That's counting in all the mandated spending increases. I think the figure is a pre-programmed 7% increase in spending every year without any legislative action. The problem for that budget, Burns mentioned, was that we would be left with a monster deficit after we used up all the cash reserves and accounting tricks.

Well forget that, we don't even need to wait for that budget for the $1 billion red ink.

At today's press conference, Burns and House Appropriations Chairman Russell Pearce said that with the estimated revenue shortfall of $180 million for the first 2 months of FY2009 that we are looking at a $1 billion deficit for this fiscal year.

Wow that budget sure stood the test of time.