Do the Math

You don’t say:

Despite the tax increases and spending cuts approved in last month’s special legislative session, legislative analysts see another possible budget shortfall looming by fiscal year 2010.

The projected deficit is $237 million. It is projected to grow by another $26 million the following year.

And on top of the historically massive tax increases, O’Malley and the General Assembly added $500 million in new spending.

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So…is it safe to say that Governor O’Malley has officially spent us into a deficit, or should we wait for Administration and General Assembly inaction to set in before we make the proclamation?

(Crossposted)