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The 2009-10 LAO Budget Analysis Series

In November, the administration projected a $24 billion drop in revenues from the estimates in place a few months earlier when the 2008.09 Budget Act was adopted. Now, due to the worsening economy, the administration projects an additional $7 billion decline in revenues. Combined with the states chronic operating shortfall and rising expenses, the administration projects that the state would end 2009.10 with a deficit of $40 billion absent corrective action...

Posted: January 3, 2009
Subject: Financial Affairs  Doc type: Reports  Author: LAO
Tags: lao