Budget outlook: bad to worse

Published May 10 2008, 04:55 PM by Ian Donnis

It's not surprising that the latest state revenue estimates have come in lower than previously expected, but this hardly makes it easier to contend with the situation. Here's the heart of Steve Peoples's report today:

Until yesterday, Governor Carcieri had officially anticipated a budget deficit of $384 million for the fiscal year that begins in July. He had already submitted a plan to close the massive gap, which accounts for 11 percent of state spending.

A group of budget analysts, however, determined yesterday that weak tax collections — led by declining sales-tax revenues — caused the state’s financial hole to grow by between $50 million and $55 million. ....

The election-year debate over the midyear spending plan raged for much of the last month. But it might pale in comparison to the debate over how to close a budget hole nearly three times larger for the coming fiscal year. That question will consume Smith Hill for the next seven weeks.

Filed Under: Budget, General Assembly, Governor Donald L. Carcieri

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3 Comments

Mike said:

Get used to it because it's a vicious circle. The more the marxists like yourself raise taxes the more people will evade them by divers means, ultimately by leaving the state and making room for yet another Third World parasite. In other words "heads you lose tails we win".

May 11, 2008 11:54 AM
Ian said:

Perhaps you missed this, Mike, but I don't have a vote in the General Assembly. And if I'm a Marxist, it's of the Groucho variety.

May 12, 2008 1:15 PM
Mike said:

Bob Walsh uses the same disengenous line. You can call yourself anything you want but your politics are plain. You may fool some. Not me. Not one single Phoenix contributor from the MAJORITY of the state who voted for Carcieri and Almond and will vote for Laffey. What is your justification for this "Lack of diversity". Contributors, not quotes.

May 12, 2008 11:52 PM

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Filed Under: Budget, General Assembly, Governor Donald L. Carcieri

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Budget outlook: bad to worse

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