Bleak times: WA revenue projections plummet $1.4b
Washington’s expected revenues have plummeted more than $1.4 billion. Governor Gregoire will order across-the-board emergency cuts in state government spending, reportedly in the 6 percent range. The state now has a projected deficit of about $520 million. Lawmakers and the governor already were girding for a $3 billion shortfall as they write the new two-year state budget this winter. The stunning economic news was presented by the state’s chief economist, Arun Raha, to the bipartisan legislative-administration panel called the Economic…