Lawmakers search for ways to balance the state budget.
State economist say the budget shortfall for next year may grow to more than 3 point 5 billion dollars. That’s a billion dollars more than an earlier forecast. James Call reports a slow economic recovery is creating more demand for state services and may jeopardize Governor-elect Rick Scott’s plan to cut taxes by 2 billion dollars.
The Legislature’s chief economist Amy Baker walked a senate committee through a series of numbers reflecting a weak economic recovery. Since the start of the fiscal year, tax collections have come in around 200 million dollars less than expected. The unemployment rate is near 12 percent and Florida has the second highest foreclosure rate in the nation. Despite that grim picture, Baker told lawmakers there are signs the economy is growing, it may be small but there is growth.
Baker
After all this negative news its sounds like it’s all bad. But the truth of the matter is we are starting to show improvement year over year. It just not as strong as we hoped it would be at this point.
To hear the report click on recession aftershocks