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Taxpayers must pay the freight for over-budget train projects
Topic - Warren Deschenaux
Maryland lawmakers will be wrestling with a bigger budget problem than they expected, after officials revised the state's revenues down by about $238 million on Thursday for the current fiscal year and the next.
A top Maryland budget analyst urged lawmakers on Monday to create a greater budget cushion than the one included in Gov. Martin O'Malley's budget plan.
Failure by Congress to avoid the "fiscal cliff" could put hundreds of thousands of people across the nation out of work, most of whom don't work for the government and don't live in federal government strongholds.
ANNAPOLIS — With lawmakers preparing for cuts if new state revenues are not found, Gov. Martin O'Malley said he is confident the state "will choose to invest in solutions that protect our quality of life."
Warren Deschenaux, the General Assembly's chief budget analyst, pointed out a projected budget deficit of about half a billion dollars in fiscal year 2016.
"You should not be shy about leaving fund balance if you have the opportunity in your process, because it and more will be needed to get you out of '16 - however you elect to get out of '14 and '15," Deschenaux said.