State Budget May Not be as Bad as Expected 

The budget gap may not be as big as initially anticipated in Augusta.What was once forecast to be at least a billion dollar shortfall may wind up at about half that number.The revenue forecasting committee has released new numbers for the next two year budget and reduced the shortfall by more than 450 million dollars.Those new figures could ease the prospect of deep budget cuts.Those numbers changed due to improvements in individual income taxes and corporate profitability. The unemployment rate was also released by the labor department on Tuesday at 7.4% for October. That’s down three tenths of a point from September. It was 8.1% a year ago.