2012 Regular Legislative Session Day 39 cont.

The latest Revenue Forecast has been released and many in Olympia are cheering a $96 million increase today. Can someone please explain to me how a $96 million increase somehow addresses a $1.5 BILLION deficit? Seriously? Here’s the funny part of the forecast, of the $96 million increase, only $32 million is actually new revenue. As you may recall, during the December Special Session the Legislature passed a bill to capture revenue from unclaimed property revenue and other one-time increases. Let me be very clear, this state is in serious, serious trouble and a $32 million revenue increase amounts to one-tenth of 1% of the overall budget.

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