In his weekly news conference today, Gov. Dennis Daugaard said he had good news and bad news from the just-updated state revenue estimates.
The good news? Despite falling national economic activity, “the recovery is proceeding at about the pace that was projected.”
The bad news? Unlike past years, it’s not doing any better than projected.
“To the extent we were hoping things would all be rosier, they’re on track but not any rosier than that,” Daugaard said.
Daugaard aides have spoken to legislators about there being $1 million of extra ongoing revenue above Daugaard’s proposal.
Today, Daugaard said January’s figures were “one-tenth of 1 percent below our projection — essentially a rounding error.”