Washington’s budget shortfall has now grown to $5.1 billion over the next two years. That’s the estimate from the Governor’s office after Thursday’s state revenue forecast.
The state's chief economist, Arun Raha, predicts the state will collect nearly $800 million dollars less than previously forecast for a variety of reasons.
“First we had the volatility in oil prices, because of the political unrest in the Middle East. Now we have the tragedy in Japan the world’s third largest economy and one of the state’s leading trade partners," says Raha.