Shortfall projection not quite as bad as before

Legislative researchers have revised their projection for the budget shortfall facing the state next year, dropping it from $328 million to $295 million. That’s still a huge deficit, particularly when it assumes the state will spend down its cash reserves, but at least the hole isn’t quite as deep. The main reason for the change, Associated Press reported, is that the researchers had improperly included some one-time spending from the current year in their projections.