Revenue forecast

The November forecast was released today, and the news was mainly good. The state is expected to have a $700 million surplus, due to the economic recovery and increased tax revenue.

People are already arguing about what should be done with the money, but the law says that any surplus has to first be used to undo the accounting gimmicks that the legislature created the last time around, and I agree with this. Accounting gimmicks are utter nonsense, and it was shameful that they were passed in the first place. Righting this wrong has top priority, and that will probably take care of the entire surplus.