$1 Billion Dollars!!!
Oh my.
Governor Beshear, doing his best Dr. Evil impression, thinks that there's a chance of a $1 billion shortfall.
Beshear says budget shortfall could top $1 billion
FRANKFORT -- Kentucky is bracing for what may be the largest shortfall ever in its state budget -- more than $1 billion.
You've read our quick explanation about how such a scenario can only be due to out-of-control spending, but we'll go into detail today and this weekend.
For now know that a prediction of a $1 billion dollar shortfall means he thinks state revenues will be lower than they've been since 2006.
Financial Calamity. Economic Disaster. Dogs and cats living together... mass hysteria!
We'll break this into two more posts:
- The math for where the Kentucky Club for Growth thinks Kentucky's budget leaves us, and
- The math for what would have to be true for Beshear's dire predictions to come true.
Stay tuned!
