The Washington State Budget
I’d like to delve into the proposed Washington State budget, Chris Gregoire’s version of which can be found here.
According to a press release from the Washington State Office of Financial Management (OFM), projected state revenue for the 2007-09 biennium is $27.89 billion. The current revenue projection for the 2009-11 biennium is $27.95 billion. The state forecasts increased revenue for the state in the upcoming budget period, over the current period, and yet, all we’ve been hearing is talk about deficits and shortfalls and the decreasing distance between the earth and the sky.
I have one question: If you make the same income this year as you did last, then how is it possible for you to have a budget shortfall?
Answer: When you want to spend more money than you receive.
