October 2, 2007
State sees shrinking surplus
State Comptroller Nancy Wyman is projecting a surplus of $4.9 million for the fiscal year ending June 30, 2008, down from the state's recorded 2007 gross surplus of $1.1 billion. Wyman cites lower corporate profits, a higher unemployment rate, a slow housing market and only modest growth in consumer spending for the smaller surplus.
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