The Consensus Revenue Estimating Group, comprised of fiscal wizards who, well, estimate future revenues into the State General Fund, predicts that revenues will fall at least $211 million before the fiscal year ends on June 30, 2009. What that means is that spending approved by last year’s Legislature is about $140 million more than Kansas is likely to have (the state had been looking forward to ending this fiscal year with a small balance). … Here’s the political good part, if we can call it that. Sebelius has to meet the figures produced by the revenue estimators back on Nov. 4, and revenues have gotten worse since then. But the Nov. 4 estimate, legally, is the target she is required to meet. … It probably means that the Legislature is going to have to cut more spending this fiscal year, but Sebelius gets to make the least-icky of the cuts. And the political focus will be on the Legislature’s additional cuts to get through this fiscal year.
The full article, well worth reading, is The politics of budget cutting.