Forecast: Olympia will have $2.4 billion more to spend next year.
Once again, the media is describing the state's $3.2 billion budget deficit as a "shortfall" that will require "cuts" in the budget, leading the public to think painful reductions in current programs are coming. What political reporters often neglect to tell us is that state tax collections will be $2.4 billion higher next year than in the current budget. State spending will go UP, just not as much as lawmakers were expecting. The most accurate way to report on the state budget is to say: "The latest forecast shows Olympia lawmakers will have $2.4 billion more to spend next year, instead of the $5.6 billion they were expecting, resulting in a $3.2 billion deficit compared to the planned increase in spending." Sure it's a mouthful - but it's more informative than saying the "shortfall" will lead to difficult "cuts." State and local tax revenues are constantly rising, yet when was the last time you heard a governor, a legislator or a local official say, "Thank you"?
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