Nothing good about this news…
Projections show Alabama legislators will have more than $500 million less to spend on education in the next fiscal year than is being spent in the current year.
The projections also show there will be about $230 million million less for non-education state services, such as state troopers and prisons.
That was the bleak economic picture painted Wednesday for lawmakers by the director of the Legislative Fiscal Office, Joyce Bigbee, as the Legislature began budget hearings leading up to the Feb. 5 beginning of the 2008 regular session.
Bigbee also told lawmakers that the state will have to withdraw almost $406 million from a savings account to pay all of the bills for the current fiscal year, which ends Sept. 30.
Yes, you heard that right, we have to dip into $406 million of reserves just to meet the budget that was set for the current fiscal year…more fun times on Goat Hill.
montgomeryadvertiser.com :: State legislators hear dire budget news