“States budget hole now exceeds $1 billion” The Board of Revenue Estimates, which I chair, today announced a $271 million reduction in our state revenue forecasts for this fiscal year and next. This, less than three months after we reduced our forecasts by $405 million, means that our States budget hole now exceeds $1 billion. This reflects the fact that far too folks are still struggling to survive in this weak economy, and it requires that we rededicate ourselves to reining in spending, drawing the line on unsustainable debt, and creating a climate that reassures nervous consumers and inspires the private sector to invest in Maryland.
Posted on: Tue, 16 Dec 2014 11:09:48 +0000
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