Worse yet, Ottawa's budget watchdog in its latest economic and fiscal outlook in April said the government lowballed deficits in February. (business.financialpost.com)
Applauding the best fiscal outlook for state government in more than a decade, the nonpartisan Legislative Analyst reported Wednesday the minimum funding guarantee for schools next year is likely to be $ 8 billion higher than current spending. (k-12daily.org)
The charts below illustrate the deteriorating fiscal outlook as measured by the traditional budget gaps calculation (showing the growth in next year's gap, from $ 1.8 billion in April plan to $ 4 billion in the July plan) and the governor's alternative measure, assuming spending is held to 2 percent (showing a flip from a $ 692 million «surplus» as of April to an $ 841 million gap as of July). (empirecenter.org)