In the latest edition of State Budgeting Matters, Dick Sheridan clears some confusion surrounding the state's budget troubles and brings up some additional questions.

"What happened in September is that the second round of budget revisions were comprised exclusively to a reduction in anticipated tax revenues, whereas the February shortfall included assumptions about Medicaid spending and reimbursements.... Especially noteworthy is the fact that the new revenue forecasts are halfway between what OBM had projected in February as the 'zero growth' and the 'recession' forecast for 2009."

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