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Analysis: State Budget Predictions

This article is more than 11 years old.

As the senate prepares to release its budget today, an outside analysis says the state is on track to spend more than half of the rainy day fund next year.

Budgets filed by the Patrick administration and the house aimed to close an expected 1.3 billion dollar gap next year. But a bulletin from the Massachusetts Taxpayers Foundation says even after making cuts and raising taxes these budgets would still be short at least one billion dollars. Foundation President Michael Widmer says lawmakers can't seem to bring themselves to make major cuts.

"The other side of that is that we don't have the revenues to support those programs so that we run the very serious risk of depleting our reserves even before we account for the upcoming recession that we presumably will experience." Widmer says.

The house and senate have already said they'll have to draw on reserves, but Widmer says the draw will be more than double because health coverage costs are up and tax revenue estimates are too optimistic.

This program aired on May 14, 2008. The audio for this program is not available.

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