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Budget deficit could grow by more than $300 million

by Dara Kam | March 18th, 2011

State economists are hashing out their new estimate of how much less money lawmakers have to spend this year.

Their last general revenue estimate projected the state would collect about $3.6 billion less this year in taxes and fees than last. But this morning’s estimates range from an additional $332.4 million drop – bringing the deficit to $3.9 billion – to a gain of $47.4 million that would decrease the spending gap to closer to $3.5 billion.

The three groups of economists representing the legislature’s Bureau of Economic and Demographic Research, Gov. Rick Scott and the Department of Revenue will crunch numbers throughout the day.

EDR’s initial $332.4 million in additional lost income is the highest. Scott’s office projects an extra $109.7 million drop. And the department’s was the rosiest – a gain of $47.4 million.

The average of the three – $131.6 million – would bump up the deficit to $3.75 billion.

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One Response to “Budget deficit could grow by more than $300 million”

  1. Unreal Says:

    Wonder if Rickie is going to go after his BP buddies for the money like he should. Doubtful since we never heard one word out of his meeting with Feinberg and you know he would have been publicizing it if he had tried to lay his hammer down.
    Probably had some tea and crumpets and had a laugh at the little people.

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