AP, via Forbes:
Associated Press
Senate leaders set Fla. budget deficit optionsBy BILL KACZOR , 12.11.08, 11:17 AM EST
Florida Senate leaders outlined a list of options for dealing with a nearly $2.3 billion budget deficit as the full 40-member chamber held a rare out-of-session meeting to get briefed on the state's dismal economic outlook.
The alternatives include spending cuts, making permanent a 4 percent hold on spending Gov. Charlie Crist already has ordered and taking more money out of a reserve fund, but no tax increases, at least for now.
Ways and Means Chairman JD Alexander, R-Lake Wales, presented the list on Wednesday after the briefing, and Senate President Jeff Atwater, R-North Palm (nasdaq: PALM - news - people ) Beach, immediately endorsed it.
"The constitution does not provide us the luxury of spending money we do not have," Atwater said "We're in a place that the constitution forbids us to keep going, and we must act on it."
Atwater also has ordered Senate budget committees back to Tallahassee next week to work on the deficit as a prelude to a likely special legislative session, possibly in January.
"I personally see no other way to right the budget than for us as a legislative body to address it," Atwater said.
The Republican-controlled Legislature does not convene in regular session until March, but that could be too late to make budget cuts before money is spent as the fiscal year will be half over at the end of December. House budget committees also will meet next week. .......(more)
The complete piece is at:
http://www.forbes.com/feeds/ap/2008/12/11/ap5810037.html