Obama Says ToMahTo, But LFB Says PoTayTo

We are simply amazed to learn that Wisconsin tax revenues are cliff-diving.

April individual income tax collections showed a decrease of 35.8 percent over the same month last year, roughly a $317 million drop. Year-to-date individual income tax collections are down 8.3 percent from last year, according to the LFB, which noted similar decreases in other states and at the federal level.

General fund tax revenues are estimated to decline by $408 million in this fiscal year, which ends on June 30

All garden-variety numbers; stuff happens when durable-goods sales drop as much as they have.

But here's the interesting part:

For the 2009-10 fiscal year, revenues are estimated to decline by $573 million, and in the 2010-11 fiscal year by $622 million.

That cannot possibly be true, if you accept the Word of The One, whose budget (released yesterday) forecasts GDP growth of 3.5% beginning 4Q '09.

Somebody's forecast is wrong.