Today’s latest revenue forecast contained more evidence that consumers are not feeling good about their economic well-being and thus aren’t spending any money.
The state’s chief forecaster, Arun Raha, predicted another crushing drop of $760 million in expected revenues in the current budget that runs through June 30, 2011.
That prompted the governor’s office to project the budget deficit is now $2.6 billion.
Here’s Raha’s report..
Gov. Chris Gregoire said earlier this week it was a formidable challenge to find savings when the deficit sat at $2 billion. Now, with a higher number, the process is getting more difficult.
“I don’t quite see the path yet,” budget director, Victor Moore. said today.
After today’s release of the report, Sen. Rodney Tom said he’s looking at sin taxes and maybe a levy on candy next session.
Republican Rep. Ed Orcutt and Sen. Joe Zarelli both blasted the idea of any new tax in 2010.
Here’s the senator’s statement.