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State budget shortfall could be $3.2 billion
House and Senate budget negotiators today, June 11, got the bad news: they’ll have to fill a hole that could be $3.2 billion deep to come up with a balanced two-year budget before July 1, start of the new fiscal year.
How much money is that? It’s more than the nearly $1.9 billion it costs each year to operate Ohio’s prison system.
Rep. Vernon Sykes, D-Akron, chairman of the House-Senate conference committee trying to put the budget together, said after the committee’s meeting on Thursday, June 11, that the gap appeared to be about $2.6 billion, compared to the Senate version of the budget. Sykes based his estimate on information from Strickland administration and legislative budget reports.
However, budget director Pari Sabety told the conference committee that the shortfall could be $3.2 billion. Later in the afternoon, Amanda Wurst, spokeswoman for Gov. Ted Strickland, confirmed that the $3.2 billion gap was compared to the Senate’s $53.5 billion version of the budget. In her committee testimony, Sabety added a caveat.
“However, the exact size of this gap is dependent upon substantial differences between the House and Senate versions of (the budget) in education and Medicaid that this committee will be reconciling in the days ahead,” she said.
Sabety painted a grim economic picture for the committee. The amount of revenue now coming into the state is the same as it was 10 years ago, she said.
The committee’s goal is to get a budget to Gov. Ted Strickland in time for him to sign it before July 1, start of the new fiscal year. If they don’t, legislators and Strickland would have to agree on an interim budget, something that hasn’t happened since 1991.
The conference committee is working off the Senate’s version of the budget.
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By larry215
June 11, 2009 4:28 PM | Link to this
Dean21443 - get an education and learn how to spell.By The Finance Admin.
June 11, 2009 3:13 PM | Link to this
WHOA!!!!! Seems like we’re a little askew in our tabulations!!!! Let’s see: It’s like having a teen charging $10,000.00 on your credit card, but you had a $10.00 limit on it. That’s the ticket!!! Someone will pay for it….and let’s make sure we silence the conservatives as they explain who will…..By mailman
June 11, 2009 1:53 PM | Link to this
The coin loss was only related to BWC funds that employers paid. Not in the general fund. The loss of manufacturing jobs was due to economic times, union commitments, and governmental taxation. Lower employer related taxes and jobs will come back. Walmart is not the problem! timtime, unkBy dean21443
June 11, 2009 1:04 PM | Link to this
Way to go great management Ohio.Idot fools all of you Taft and his gold coins the loss of 90% of are manufacturering jobs.This is the results of greed walmart and are government. Corruption!!!!!!