PASCAGOULA — State Treasurer Tate Reeves said state revenue has fallen for the second year in a row in fiscal 2010, something he noted is “unprecedented.”
That’s the bad news, he said.
The good news, he said, is that Mississippi leaders such as Gov. Haley Barbour have been vigilant about reining in spending, making the state relatively well positioned to weather continued economic challenges.
Reeves told members of the Rotary Club at their meeting at the Grand Magnolia Ballroom on Wednesday that a combination of a slack economy and a tapering off of federal Katrina money will continue to drain Mississippi’s spending money.
Revenue fell 6 percent in 2010 and 2 percent in 2009, he said.