POLICY BLOG is reporting that the state's projected budget deficit has grown by nearly $1 billion, following a historically low tax revenue collection month in April.

In other words, the mess Gov. Ed Rendell and the Legislature created is far worse than anyone could have imagined.

"Quite frankly, I am a bit astounded," writes Nathan Benefield, who has been monitoring the state's red ink for months. "This shortfall is almost three times the estimated shortfall the Office of the Budget provided us in mid-March. How did they get it so wrong? I will be curious if there is any explanation."

The official April tax revenue numbers have not been released yet, but lawmakers have said the April General Fund revenue shortfall is $941.5 million.

That means the state spent nearly $1 billion more than it took in during a single month!!!!

The projected deficit for the fiscal year ending June 30 had been $2.3 billion but the April figures will send the deficit past $3 billion.

Read the full post at POLICY BLOG