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State report projects deeper budget deficit

• East Valley Tribune
State spending continues to outpace revenues, paving the way for a deeper deficit even after lawmakers enacted more than $420 million in savings, a new report says.

The figures Monday from the staff of the Joint Legislative Budget Committee show the state took in about $455 million from all sources in October. But the state also spent nearly $1.1 billion in the same period.

That puts the gap for the first four months of the fiscal year at more than $1.6 billion, well on its way to what was billed as a $2 billion gap for the entire year.

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