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More red ink: WA revenue forecast drops $778m

More red ink: WA revenue forecast drops $778m

Washington’s glacial economic recovery is still bleeding red ink.  The state Revenue Forecast Council has just cut more than $778 million from the estimate of expected tax revenue, driving the state’s projected deficit to about $5.1 billion. That compares with the current $30 billion two-year state budget.  Lawmakers have been cutting spending for the past several years and recently adopted cuts for the current fiscal year.  Budget Director Marty Brown said there is still a gap of about $200 million…

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