Projected state budget shortfall grows to $456 million

This from C-J:

FRANKFORT, Ky. — A team of economists today predicted that the state will face a $456 million shortfall this fiscal year.

That’s far worse than the $294 million shortage predicted in late October for the current fiscal year, which ends next June 30.

Today’s forecast, made by the state’s Consensus Forecasting Group, will be the basis for a budget-balancing plan that Gov. Steve Beshear says he’ll propose next month.The governor has said he will call for some spending cuts in an already-lean budget for the current fiscal year. And he has said he has not ruled out proposing an increase in the 30-cent-per-pack cigarette tax, or other revenue-raising measures, as part of the plan to balance the budget.

He has said that if he believes a tax increase is needed he likely would propose it to a special session of the General Assembly he would call in January....