LFB: Structual deficit $1.682 billion
Gov. Jim Doyle's partial vetoes of the budget repair bill shaved $12 million off the state's structural deficit compared to what lawmakers had approved, according to the Legislative Fiscal Bureau.
The budget repair bill lawmakers approved left a structural deficit of $1.694 billion heading into the 2009-11 budget. LFB Director Bob Lang said the net result of the governor's vetoes left a $1.682 billion shortfall.
The structural deficit was projected to drop below $900 million under the budget Doyle signed into law last fall. But sharply falling revenues pushed it significantly higher.
According to the LFB, the plan Doyle introduced to fix the shortfall would have left the state with a structural deficit of $1.42 billion, the original Assembly plan carried a $1.65 billion structural deficit, and the Senate's proposal had a $1.37 billion structural deficit.
See the LFB memo here.
Labels: Budget_Repair_Bill, structural deficit
