Posted on February 5, 2010 by Tim Albrecht in On the Blogs
The Iowa Republican: Culver comes up short in covering $1 billion budget gap
Every year, the legislature and the Governor must approve a balanced budget by the end of the legislative session. This process is always a tedious and difficult one, and this year, they only have 80 days to do it. Some years the process is easier than others. In fiscal year 2008, legislators had a relatively easy time dealing with the $137.1 million budget gap. This year, Governor Culver and the legislature has their work cut out for them. They must deal with the largest budget gap in the state’s history.
The budget gap for fiscal year 2011, which begins in July, is a record $1.071 billion. Not only is the current budget gap the largest in the state’s history, but it’s also the first time that the budget gap has been over $1 billon. Over the last eight years, the budget gap has averaged $444.8 million…full post HERE!
