Revenue Forecast Down $423.4 Million

ChangMook Sohn, director of the Economic and Revenue Forecast Council, just announced that he'd cut the forecast for 2007-2009 by $423.4 million.

AWB president Don Brunell had this to say:

Legislators must control spending now. We have repeatedly warned of the dangers of unsustainable state spending. To help manage this shortfall, lawmakers must preserve a minimum balance of $1 billion. And we urge a return to the Priorities of Government budget discipline used during the last recession.

MORE Jason Mercier beat me to the abacus and calculates a $2.2 billion shortfall for 2009-2011.