Sunday, October 14, 2007
$10 Million more in the red
The state just announced we are $10 Million below revenue projections for the new tobacco tax in this month alone. Add that to the $14 Million we were short last month and you start to wonder where the state will make up for the lost projections. No lag time was built in for the state to adjust for this shortfall previous to new programs starting. The new programs that were supposed to be run with the tobacco money don't just go away when the money doesn't show up. Revenue will have to come up with the money from somewhere and I doubt it will be from their new pay raises.