State falls short on tax revenue. Way short as well as again.

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Opps – we be short this year. Wicked short …
Image from the Boston Globe

– News from elsewhere with implications for Quincy covered by Quincy Quarry News.

 

State falls short on tax revenue in April – both way short as well as again.

 

The consequences are not pretty as the state’s fiscal year runs from July through June and thus Governor Charlie Baker is facing a big shortfall to have to cover in a short period of time if he hopes to avoid dipping into the Commonwealth’s already seriously depleted “Rainy Day” reserves.

 

As the ever-growing legions of loyal Quincy Quarry readers will recall, such concerns were at least generally addressed in detail recently in an extended Quincy Quarry piece on government finance and economics. 

 

Look out below?!?!?
A barrons.com image

Similarly, the Quarry also recently published a second piece that questioned economists’ expectations that the state economy would enjoy a resurgence in the wake of a sluggish first quarter. 

 

Instead, and as was anticipated by Quincy Quarry, the other shoe has dropped. 

 

In fact, it would appear that the other shoe has dropped even harder than the worst case scenario projected by the Quincy Quarry News Financial Affairs Desk.

Read Full Story: State falls short on tax revenue. Way short. Again. – The Boston Globe

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