Walker’s budget deficit would send deficit up $2B by 2019
MADISON, Wis. — Gov. Scott Walker said his budget proposal sets the state up for a sunny future.
But that depends on how you look at it.
The budget Walker submitted to the Legislature in February balances, as it’s required to under state law. But when that same budget is measured using generally accepted accounting principles, or GAAP, the picture is much different.
With that measurement, the state’s true budget deficit would grow to more than $2 billion by 2019 — the largest it’s been since 2012.
Walker campaigned on a platform of eliminating the deficit. And he did chip away at it during his first few years in office, getting it as low as $1.4 billion from a high of $3 billion. But his proposed budget would send it back up.
COPYRIGHT 2020 THE ASSOCIATED PRESS. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.