Vermont Governor James Douglas says the 2010 budget forecast is a somber one. He says there's an additional 28 million dollar shortfall in the state's general fund for the next fiscal year. Douglas, who was recently in Middlebury, says the state's Joint Fiscal Committee will try to clear up the red ink later this month. He says, quote --
“It’s disappointing, maybe not surprising, because I think most economists feel we haven’t bottomed out yet,” Douglas said. “But after an 8 percent drop in revenues between fiscal year 2008-2009 and another 2.5 percent now projected, it’s significant.” Douglas told the Addison County Independent that if there is an upside to the economic downturn, its that the bad news comes at the start of the fiscal year, giving the state some time to adjust.
