Thursday, November 19, 2009

Budget deficit grows to $2.6 billion

Washington's budget outlook took another hit today with forecasted revenue dropping $760 million since the September revenue forecast. The result of this is a projected $2.6 billion deficit in the 2009-11 budget adopted earlier this year.  According to the press release issued by the state's economist, Dr. Arun Raha: "While growth has returned to the national and state economies, consumer confidence and more critically, consumer spending remain weak. As a result, we are experiencing a revenue-less recovery." Responding to the news the Governor said in a press release: "I will produce a budget balanced to this revenue projection because I am required to by law. We all know a budget reflects the values of our state. All options must be on the table to produce a budget that works." The Governor, however, has ruled out calling a special session of the Legislature . . . READ MORE


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