Colorado Gov. Bill Ritter is ready to announce his plan to deal with a $262 million revenue shortfall to balance this year’s budget.

That will be on top of the estimated $1.1 billion lawmakers will be forced to cut next year.

The balancing plan being announced Friday follows last month’s quarterly revenue forecast, which showed that revenues continue to lag projections because of the recession.

Ritter’s spokesman, Evan Dreyer, says it would not be fair to leave the current budget gap to the next governor. Democrat John Hickenlooper, American Constitution Party candidate Tom Tancredo and Republican Dan Maes all have their own budget-balancing plans.

Since 2008, Ritter and lawmakers have covered shortfalls of nearly $4.5 billion.
– Associated Press