Wisconsin Budget Deficit Drops By 23 Percent, Gov. Scott Walker Announces

Wisconsin’s budget deficit dropped 23 percent last year to $1.7 billion and that bodes well for taxpayers, Gov. Scott Walker said Thursday, the Journal Sentinel reported.

"This is more great news for the hardworking taxpayers and yet another sign that our tough, but prudent, decisions are paying off for the people of Wisconsin,” the Republican governor said in a statement. “Because of those tough decisions and a growing economy, the state's GAAP deficit has dropped to its lowest level in over a decade."

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According to the state’s annual financial report, the budget gap declined by about a half-billion dollars as of June 30, the end of the fiscal year. It is down from $2.2 billion the year before, making it the lowest level since 2002 when the deficit stood at $1.4 billion, Walker's administration said.

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