The state deficit should be repaid in one generation, to cope with the effects of the aging population.
This is not a one-time problem; large annual state deficits are expected to continue.
The state deficit is projected to reach almost $15 billion next year.
Despite the state deficit, the Legislature found $13 million for the state's share of Medicaid.
As governor, Thomas inherited a major state deficit that he would not resolve in his tenure.
In fact, through his sound financial maneuvering, a $223,000 state deficit was eliminated.
Analysts predict that this will add more than $4 billion to the state deficit.
During his term, he vetoed many bills that helped to reduce the state deficit.
As previous speakers also pointed out, increased state deficits give cause for concern.
Prospective bond buyers learned last week that the state deficit might double.