Forecasting Failure

Earlier this year, during the last legislative session, many of us expressed concerns about the Governor spending the projected budget surplus. We all felt that it was best to have that money in hand, rather than being spent while only being "forecasted". Well today our worst fears came true!

Gov. Tim Pawlenty is bracing for bad news when state finance officials release an economic forecast on Friday.
Pawlenty is predicting a hit to the state budget, but says he doesn't know how bad it will be. He says the ailing housing market, credit crunch and high oil prices make him pessimistic.
Many economists, including consultants used by the state, are anticipating a year of slow economic growth in 2008. That would bite into revenue the state is counting on to meet its budget obligations.

Emphasis mine.

Here is a radical thought for the Legislature and the Governor. How about only spending the money that you (the state Government) have IN HAND. That is what the rest of us who live in the real world do!