Still a Deficit
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.
Good for Doyle to reduce it… a little… but we’re still going to be $2 BILLION in the hole going into the next budget. Hopefully there will be a new governor at that time who can actually fix a budget deficit.
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