Budget battles continue in the Palmetto State
Fri, 12 Feb 2010 17:36:52 GMT —
At the statehouse on Thursday was another budget battle. This round was on how to avoid any further financial decline.
The Board of Economic Advisors are saying next year's revenue will be down 25% compared to recent years. Unemployment claims, continue to challenge the budget this year.
Next year officials say they don't anticipate the budget getting any bigger, but they're hopeful things won't go into the red.
"Essentially a flat year next year over this year, we don't see any growth," said Board of Economics Advisors Chairman John Rainey. "But the good news is we don't see any decline at this time; so I really do think that we are tracking on the bottom."
Officials say this year South Carolina lost over a billion dollars in state revenue, due to increased unemployment and a decrease in business activity.