State officials released a revised budget forecast this morning, including a gap between revenues and projected expenditures that’s 25 percent wider than it was in November. The real gap stands at about $6.4 billion dollars, a near record. Federal stimulus funds, though, are expected to buy down the actual gap to about $4.6 billion.
Here’s what it looked like as state budget director Tom Hanson, standing at the podium, delivered the news to a roomful of reporters (in front) and lobbyists (in back) in Room 15 at the State Capitol. (Click for a bigger version.)
Here’s the full-sized file. The tick-tock on the announcement and what the governor, DFL and GOP legislators had to say, is below.