The state is forecasting an almost $27 million shortfall for this fiscal year and is staring down future budget deficits of $502.5 million and up to $4 billion in the years ahead.
That comes after Comptroller Kevin Lembo projected Jan. 4 a small surplus of $200,000 following $214.3 million in spending reductions and $135.8 million in revenue enhancements passed by lawmakers in December’s special session.
The Office of Policy and Management’s only statement on the shortfall came from its spokesperson, Gian-Carl Casa, undersecretary for legislative affairs, “The world is changing and we’re going to need to take the tough but necessary steps to change with it. Households need to curb spending when necessary, and so does government.”
Senate Minority Leader Len Fasano (R-North Haven) questioned how the state could go from a surplus to a deficit in a matter of days. Last week, the state had announced a $355 million surplus for this year. “We are $26.8 million in the hole yet again for this year. Next year our $355 million deficit has grown to $502.5 million. The state’s out year deficit has also climbed to over $4 billion,” he said in a statement.
