State Deficit Forecast: $1.8 Billion

Buried in The Providence Journal story on the state budget was this little nugget.

Carcieri’s budget would also leave a trail of continued budget problems for Rhode Island’s next governor. The combined deficits for the four-year period beginning in 2012 would exceed $1.8 billion, according to figures provided by the administration.

Thus far, most of the deficit figures that have been reported for Rhode Island have been in the hundreds of millions. This latest multi-year estimate—the first time this blogger has seen it—shows just how serious the problem is. But at least Carcieri’s budget has a 4 percent decrease in spending next year—that’s quite rare for any government entity, from the federal down to municipal level.

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