Thursday, January 24, 2008
The current two-year state budget predicted a $56 million surplus at the end of June 2009, based on economic information that was available early last year. State economists have revised that figure in light of recent economic indicators, and have made the following predictions for the current budget period:
With slow economic growth, the state will face a $733 million shortfall.
With zero economic growth, the state will face a $1.3 billion shortfall.
If the economy goes into recession, the state will face a $1.9 billion shortfall.
Associated Press