WASHINGTON — Although the national economy has begun to bounce back, governors said Saturday that the worst was yet to come at the state level, where revenues are still falling short of projections.

“State revenues continue to deteriorate, as most states are witnessing monthly totals lower than their recent forecasts, which have been revised downward,” said Gov. Jim Douglas of Vermont, the chairman of the National Governors Association, which opened its winter meeting here on Saturday.

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This news doesn't come as a surprise. Here in Virginia, Gov. Bob McDonnell proposed major budget reductions last week, including significant cuts in education spending and social services. In addition, about 500 state workers would lose their jobs and the rest would be furloughed for five days each of the next two years.

Not bright at all, it sounds and looks very bleak to me.  And it is not the big boys that this will effect so much as the mid range worker's pay.

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Hey, maybe they can cut ours too.

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Maybe he got a nice reward for that.