Tuesday, July 07, 2009

What a RELIEF!!

Great News!!

Despite $3.3 billion in tax and fee increases approved since February, the next governor and future legislators could have to solve a $2-billion budget deficit in two years, the Legislative Fiscal Bureau reported Tuesday.

After every two-year state budget is signed into law, the Fiscal Bureau estimates the size of the next two-year potential imbalance between tax collections and spending commitments -- the so-called "structural deficit."

Tuesday's Fiscal Bureau report put the gap between tax collections and spending promises in the 2011-'13 budget cycle at $2 billion -- or $356 million less than the number in the budget that the Legislature sent Gov. Jim Doyle

ONLY $2Bn. What a deal!

This, the most "responsible" budget that the (D) Party could cook up.

1 comment:

J. Strupp said...

...looks like we are going to have to raise taxes. Unless the Fed. government wants to backstop state budget shortfalls short term to force the states out of contractionary fiscal policy.

That's the way I would go.