Beshear Preparing For More Budget Cuts

From Kentucky Public Radio’s Tony McVeigh

Kentucky Gov. Steve Beshear is making plans for another round of state budget cuts. 

Monday was the deadline for state agencies to tell Beshear how they intend to cope with another six-percent reduction in spending.  But first, Beshear wants to hear from the Consensus Forecasting Group, a panel of economic experts that advises lawmakers and the governor. 

“We’ll have to use their final numbers in preparing our budget.  I really don’t expect them to be much more optimistic than they were in October.  Hopefully, they’re not going to be too much more pessimistic.  But whatever those numbers are, they’re the numbers we’re going to have to use,” Beshear said.

In October, the forecasting group predicted a state revenue shortfall of $161 million in the current fiscal year.  The panel’s next meeting is scheduled for Friday.