It was 1992 when Wesley Snipes opened up the trailer for Passenger 57 with the growl: "Always bet on Black". At the Kansas State House in Topeka, the catch phrase may be: always bet against Brownback's Budget Projections. If there were such a gamble to be made, Vegas odds would strongly favor those who bet against the state, as Kansas revenues once again fall desperately short of expected values.
The Kansas budget had 'baked in' a leniency of $70M for missed projections, and with October's numbers in, Kansas has now broken the bank so to speak, as the $11M miss from revenue forecasts puts Kansas $72.3M below the budget.
This Friday, Kansas experts are expected to downgrade year over year forecasted revenue, which could be a body blow to a state that will need to rethink current strategy early within the legislative term.
http://cjonline.com/...
On Friday, analysts and economists from the Brownback administration, the Legislature and three state universities are expected to downgrade the revenue projection for the fiscal year ending June 30. The revised forecast becomes basis of the governor's new $6 billion budget plan to be delivered at outside of the next legislative session.
Jim Ward, Democratic House member from Wichita, Kansas highlighted the problem. "The budget disaster continues in Kansas. Governor Brownback refuses to recognize the fact that his tax plan is destroying the Kansas budget."
The budget miss applies only to current projected budget as currently set, and does not react the the ongoing case before the Kansas Supreme Court regarding school funding. Plaintiffs in the Gannon case, who received a favorable ruling this summer, have asked the court to lift the stay in regards to their verdict.
Should the court agree with the plaintiffs, the Kansas Budget would be found inadequate of the constitutional duty to fund schools and the continued forecast misses by the administration would put the state seriously behind revenue requirements to match obligation.
Once considered a Republican possibility in 2016, Brownback's Kansas instead is the Republican utopia no Republican Presidential candidate wants to touch or even mention, despite selling eerily similar economic advice to the nation as a whole.
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