ANOTHER STRUCTURAL DEFICIT

SOURCE: WisPolitics
The state budget adopted by the Joint Committee on Finance will leave the state with the largest structural deficit since Governor Doyle took office, state Senators Scott Fitzgerald, Michael Ellis and Rob Cowles warned today. According to a report issued by the Legislative Fiscal Bureau, the committee’s budget leaves a structural deficit of $2.25 billion – almost $700 million higher than the budget originally proposed by the governor.

“We’re digging ourselves deeper and deeper into debt,” they said. “We’re moving exactly in the wrong direction.

“What’s even more shocking is that we have this huge structural deficit after raising taxes and fees by more than $4 billion over the next two years and after a massive infusion of federal stimulus dollars,” said the senators.

This is a recipe for fiscal disaster. As more and more details of this proposed budget come forward, it is painfully clear that this may be one of the worst spending plans ever proposed in Wisconsin history.