Phoenix, AZ – In simple terms, the budget for the current fiscal year that's
already half over is still about $1.5 billion in the red, even
after a series of spending cuts and financial maneuvers. And the
outlook for the coming budget year is even worse, with the gap
between revenues and expenses somewhere in excess of $3 billion.
Speaking to the Arizona Chamber of Commerce, House Speaker Kirk
Adams said fixing the problem will require further cuts.