Del.'s budget deficit reaches $800 million

May 16, 2009 1:14:27 PM PDT
Delaware's projected budget deficit has reached an all-time high - $800 million. Governor Jack Markell says this week's legalization of sports gambling didn't make a debt in the projected deficit.

However, the $800 million estimate doesn't take into account the estimated $53.5 million that sports betting should generate or the $155 million expected from federal stimulus funds. With that money taken into account, Delaware has a $600 million gap to close before the June 30 deadline.

Markell says the sports betting law was only the first piece of his plan to shore up the state's finances. He has proposed numerous tax increases and spending cuts, including an 8 percent pay cut for state workers.

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Information from: The (Wilmington, Del.) News Journal, http://www.delawareonline.com

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