Barbour sharpening his axe
Gov. Haley Barbour will hold a news conference this afternoon to, according to a press release from his office, announce “major decisions” regarding the state’s budget.
That’s pretty easy to translate. “Major decision” means “more cuts” to the state’s budget that has already had $172 million trimmed from it in September.
November’s revenue came in 6.88 percent, or about $24.8 million, under estimates. For the fiscal year that started almost exactly five months ago, revenue is $136.6 million shy of where revenue experts thought it would be. If that pace holds until next June 30, the nearly $330 million deficit will be right in line with what Barbour said he thought it would be when he made the first round of cuts in September.
Barbour will share the particulars at 2 p.m. Magnolia Marketplace will have the details shortly thereafter.