When legislators convened earlier this year, they crafted a budget based on state economists’ December estimates, which expected revenue of $7.88 billion for fiscal year 2021. That figure could now drop as much as 30 percent to just $5.49 billion.
It’s not just next year’s budget that will take a hit. Revenue for the current period, which ends June 30, could be between $368 million and $483 million short of projections, the economists said.
That’s greater than the $259 million previously estimated to be in the state’s operating reserve at the end of the period, meaning there will be “insufficient” funds to cover appropriations unless spending is reduced or the state taps another reserve fund, the document said.
To: brownwill6767
2 posted on
05/07/2020 8:28:58 PM PDT by
cherry
To: brownwill6767
Maybe you shouldn’t havr shutdown. Shoulda stayed open.
3 posted on
05/07/2020 8:29:42 PM PDT by
moviefan8
To: brownwill6767
This is what happens when you shoot yourself in the foot. The biggest self inflicted damage in history. We may as well have stuck our hand in a garbage disposal.
To: brownwill6767
Wisconsin already has a $870 million loss IN ONE MONTH! OMG!
LIBERATE WISCONSIN! LIBERATE AMERICA!
Get us back to work, Mr. President! NOW!
6 posted on
05/07/2020 8:37:44 PM PDT by
Diana in Wisconsin
(I don't have 'hobbies.' I'm developing a robust post-Apocalyptic skill set.)
To: brownwill6767
Sucks to have a Rat governor. (I should know, I have one too.)
7 posted on
05/07/2020 8:38:11 PM PDT by
ConservativeInPA
(It's official! I'm nominated for the 2020 Mr. Hyperbole and Sarcasm Award.)
To: brownwill6767
Simple. Cut or downsize the state government. Simple.
8 posted on
05/07/2020 8:39:19 PM PDT by
dragnet2
(Diversion and evasion are tools of deceit)
To: CedarDave
NM Ping. We may be low on cash but we got plenty of sunshine!
10 posted on
05/07/2020 8:41:24 PM PDT by
Redcitizen
(Nobody needs a 10 round magazine. You need a 30 round magazine.)
To: brownwill6767
Get Fauci and Bill Gates to bail you out, you fools.
To: CedarDave; leapfrog0202; Santa Fe_Conservative; DesertDreamer; OneWingedShark; CougarGA7; ...
NM ping list.
...............................
Wow, Who could have seen this coming????
/s
And Lujan wants the shutdown to go at least another month.
To: brownwill6767
This is going on across the country. California went from bragging about a surplus to 53.1 billion deficit. Every town,city and county is going to be in the same shape.
16 posted on
05/07/2020 9:05:43 PM PDT by
Lurkina.n.Learnin
(The Revolution Will Not Be Televised but It Will Be Livestreamed)
To: brownwill6767
Here in Colorado they’re talking about a 2 or 3 billion dollar shortfall. First thing on the list to cut is services for the elderly. Dumping wuhan flu patients into nursing homes and now cutting funding for seniors. Sure seems like seniors are being targeted. Hmmm.
20 posted on
05/07/2020 9:41:20 PM PDT by
bluejean
(I'm becoming a cranky old person. It really annoys me.)
To: brownwill6767
Maybe here’s my chance to finally own a railroad. I know. It’s just a commuter line, but it should go cheap!
23 posted on
05/07/2020 10:24:49 PM PDT by
VanShuyten
("...that all the donkeys were dead. I know nothing as to the fate of the less valuable animals.")
To: brownwill6767
Not. The. First. Penny.
25 posted on
05/07/2020 11:33:38 PM PDT by
StAnDeliver
(I don't owe you my freedom.)
To: brownwill6767
Let the sanctuary states and sanctuary cities go bankrupt.
27 posted on
05/08/2020 3:49:19 AM PDT by
Candor7
To: brownwill6767
Well, there’s only one answer - asking the “rich” to pay “their fair share” will solve the problem!!!!
28 posted on
05/08/2020 5:23:26 AM PDT by
Opinionated Blowhard
(When the people find that they can vote themselves money, that will herald the end of the republic.)
To: brownwill6767
29 posted on
05/08/2020 7:14:30 AM PDT by
NohSpinZone
(First thing we do, let's kill all the lawyers)
To: brownwill6767
You play stupid games you win stupid prizes.
30 posted on
05/08/2020 7:32:34 AM PDT by
KC_Lion
(We honestly need a separation of Media and State.)
To: brownwill6767
New Mexico already receives more than their fair share of federal funds. Half the state population is on some type of welfare sustenance.
Not one more penny. Let them rot.
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