Thursday, February 12, 2009
State Finances Worse Than Expected: Interview With Sen. John Arthur Smith Tomorrow
The state is twice as much in the hole financially as was predicted before the legislative session. Instead of being $300 million in the red, the state is about $600 million in the red. Next year is likely to be just as bad. The latest projections of revenue are due tomorrow, and I have arranged to interview the Chairman of the Senate Finance Committee, Sen. John Arthur Smith about these projections and what they mean, after they have been released. Sen. Smith has been accurate in the past year in predicting these shortfalls, although his warnings have often been ignored.