Rhode Island Budget Shortfall Hits $100 Million Under Dem Gov Gina Raimondo

May 11, 2017

Bad news on Rhode Island’s budgetary and economic state under failed Democrat governor Gina Raimondo continues to paint a grim picture for the the Ocean State’s outlook. Last night it was revealed that Rhode Island can expect a $100 million shortfall this year, leaving the state with significantly less money than previously expected by forecasters.

WPRI-TV reports:

“Rhode Island leaders received some unwelcome news Wednesday, as experts confirmed they will have about $100 million less to spend than originally forecast as they put together the new state budget.

The number-crunchers who took part in the state’s semiannual Revenue Estimating Conference announced Wednesday they expect state revenue to be $60.1 million lower in the current 2016-17 budget year and $39.5 million lower in the 2017-18 budget year compared with what they projected the last time the met, in November.

It follows the same officials’ determination last week that state spending on social services, chiefly Medicaid, will be nearly $15 million higher than expected over those two years, creating another hole in the $9-billion budget plan Democratic Gov. Gina Raimondo put forward in January.

The new numbers make the math harder as Raimondo and Democratic House Speaker Nicholas Mattiello continue to joust over whether the budget should include first rounds of funding for his car tax cut and her tuition plan, at estimated costs of $40 million and $10 million, respectively. Democratic Senate President Dominick Ruggerio, who took office in March, has expressed reservations about whether the money is there for either proposal.”

This news comes weeks after reports that Rhode Island lost hundreds of jobs in March and days after the state was given a bottom ten ranking for business by Chief Executive for the second straight year.

Despite her attempts to spin Rhode Island’s condition through false statements and phony job numbers, Gina Raimondo continues to fail when it comes to rebuilding Rhode Island’s economy and managing its budget. Voters will remember her failures in 2018 no matter how much money national Democrat groups keep spending on ads to save her failing administration.