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Back in February, when Congress passed and President Obama signed into law the federal stimulus package for the states, the only thing we knew for sure was that a significant amount of money was about to come our way.
It could not have come at a better time. Economists predict the states are looking at a combined deficit of $250 billion between now and 2011, and in Kentucky, we have already cut nearly $900 million since Governor Beshear took office. There is growing evidence that a significant deficit is likely during the next fiscal year as well.
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