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…