Budget documents indicate depth of recession, likelihood of coming cuts

Saturday, Aug. 29, 2009 | 8:38 a.m.

A couple of Gibbons administration budget documents show various economic indicators and how they detail what has happened during the recession and what might happen in the last part of the year. The bottom line: $31.6 million below projections for the recently ended fiscal year and bad indicators for the coming one. They can patch it together for awhile with reserves and a credit line. But if the next quarter continues to show precipitous drops, major cuts are likely, and perhaps, a special session.

The docs are posted at right.