…. explains why Gov Scott Walker and Legislative GOPs recently stopped talking up the possibility of “upside revenue surprises” when the LFB comes out with their updated estimates later this week. The stakes involved in that report are obviously huge, as it will be near impossible to fill in Gov Walker’s many budget cuts if the revenues aren’t there.
In addition, if the future estimates are revised down, and fall short of the $1.25 billion in increased revenue that the budget already relies upon (possible, since the LFB’s estimates of GDP and job growth were above the weak numbers reported in the 1st Quarter of 2015), then there may be even more of a mess to clean up. Stay tuned.
Via Wisconsin revenue reflections…and a huge report coming @ Jake’s Economic TA Funhouse.