By
The Associated Press
.
Published: Tue, March 11, 2008 - 6:16 pm
Last Updated: Tue, March 11, 2008 - 6:39 pm
TALLAHASSEE, Fla. (AP) - State economists forecast more gloomfor Florida's battered budget today.
They cut 2.9 billion-dollars from their general revenue estimate
for the current and next fiscal years, reducing it to 70 billion
dollars.
General revenue represents about a third of the annual state
budget.
It's the second time the budget has gotten the ax. Lawmakers cut
about 1 billion dollars in October.
Economics blame a housing slump, tighter credit lines, falling
corporate profits, as well as higher fuel prices that depress
tourism and consumer spending.
The estimate came on the eve of final votes by both houses of
the Legislature on 512 million dollars in spending cuts for the
current budget year, which ends June 30.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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