January 24, 2011 at 6:12 pm in The Daily Republic
Gov. Dennis Daugaard does not support law changes to abolish structural deficits or place annual limits on state government spending, he said Monday.
Last week, during his budget address to the Legislature in Pierre, the new governor proposed $127 million in cuts to eliminate the state’s structural deficit. A “structural” deficit exists when a budget is balanced with money from sources such as reserves, while ongoing expenses remain greater than ongoing revenue. Continue Reading