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State Faces Huge Budget Deficit

State Faces Huge Budget Deficit. (Shortfall, in Billions). State Faces Huge Budget Deficit. (Shortfall, in Billions). Reasons for the Deficit. Large Underlying 2010-11 Problem Most 2009-10 solutions short term. Deterioration of Many Solutions Some Softness in Revenues.

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State Faces Huge Budget Deficit

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  1. State Faces Huge Budget Deficit (Shortfall, in Billions)

  2. State Faces Huge Budget Deficit (Shortfall, in Billions)

  3. Reasons for the Deficit • Large Underlying 2010-11 Problem • Most 2009-10 solutions short term. • Deterioration of Many Solutions • Some Softness in Revenues

  4. Large 2010-11 Operating Gap (In Billions)

  5. Huge Operating Shortfalls Projected Throughout Forecast Period General Fund (In Billions)

  6. Keys to Balancing the Budget • Take Early Action • Focus on Long-Lasting Solutions • Make Hard Decisions on Priorities • Include Revenue Options • Aggressively Seek New Federal Assistance • Consider the Ballot Again

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