Deficit to require 'dramatic' actions

Written by Steve Peoples, Providence Journal

Tuesday, November 11 2008 13:00

PROVIDENCE -- State leaders learned yesterday that Rhode Island is facing a gaping budget hole of $372 million for the current year, its largest mid-year deficit in nearly 20 years.

The bleak news probably sets the stage for rounds of painful budget cuts likely to affect everyone who pays property taxes, enjoys state beaches, depends on subsidized health insurance or works for the state. Adding to the dismal financial forecast, the House fiscal office also projected a deficit of "about $450 million" for the budget year that begins next July, although that figure may change substantially in the coming days.

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