MA Budget Crisis

WBUR writes Economists Warn Of Worst Fiscal Crisis In Mass. History.

Tax revenues have declined 35% in one month. "Massachusetts is watching April income, sales, corporate and, especially capital gains tax revenue, collapse, said Michael Widmer, president of the Massachusetts Taxpayers Foundation."

Economic models for the budget have failed and the recommendation is the state cut $1.8 billion in spending.

State Treasurer Tim Cahill said “Even though the goal of covering every individual in the state is noble, it may not be doable in this environment. You’ll probably have to cut local aid; you may have to cut education. Those are the three big ticket items in the budget and you’re not gonna do it with cutting waste, cutting fraud and trimming around the edges.”