The Budget BlastBack 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.
posted by Anonymous Mike at
12:59 PM
