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November 23, 2014

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A look at the budget cut history

A little history lesson on the budget cuts from budget director Andrew Clinger:

• In January, the $564.8 million shortfall identified. Lawmakers tapped the rainy day fund and made 4.5 percent across the board cuts.

• As of April the shortfall had grown to $902 million. A second round of cutting knocked out capital improvement programs, retiree liability, drained the rest of the rainy day fund, took $56 million for transportation projects.

• By June 27th the shortfall had grown to $1.2 billion. A special session was called and there were more cuts to services, including eliminating money to Millenium Scholarship.

Mark Stevens, legislative fiscal analyst, said that shortfall is now $1.5 billion.

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