State lawmakers got a tough projections today on the economy in Georgia. They are meeting at the UGA Carl Vinson Institute of Government for an annual legislative workshop.
The economy will rule almost everything lawmakers will decide when they meet for their 40-day session in January.
They heard from Standard and Poor’s Economic Forecaster David Wyss. He said like the nations economy Georgia will have a tough ride.
“We are seeing signs that the stock market is stabilizing,” Wyss says.To balance the shrinking state budget leaders in the Republican controlled legislature favor favors cuts in spending rather than raising taxes.
“The housing market will stabilize," he added, "but not for another year. Wealth is continue to be weak.”
Those cuts are likely to be felt hardest in health care and education, which make up the bulk of the state budget.
