What a missed tribal payment says about state government’s fiscal condition

There definitely seems to have been some kind of budgetary shortfall for Fiscal Year 2014, and I’ve noted that the cash balance for the end of that fiscal year was nearly $546 million below what was estimated in March. Now that doesn’t necessarily correspond to what the General Fund totals might be, but if Scott Walker is claming that the Potawatomi’s missed payment of approximately $25 million is throwing the budget into turmoil, then we may be in much worse shape than we knew, and the General Fund budget holes to be closed might be much more than the $1.1 billion I’ve previously estimated.

Via Did Walker just admit to a massive budget deficit? @ Jake’s Economic TA Funhouse.

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