The budget includes deep cuts to public universities, and those cuts would increase if revenues fall below projections.
Monsanto has already been forced to sharply cut prices on SmartStax and on its newest soybean seeds, called Roundup Ready 2 Yield, as sales fell below projections.
What makes the situation worse than what states faced in previous recessions, they said, is its stubbornness: three straight years of revenues falling below projections, leading to deeper cuts where scars remain from previous rounds.
Erin Henson, spokeswoman for the Maryland Department of Transportation, said the state had to delay some projects because revenue from the state gas tax recently came in $746 million below projections, which had been based on higher gas prices.
It's no wonder enrollments have come in below projections.
In January, there were only 55,000 new arrivals, well below projections.
The museum was on track to draw 125,000 visitors, well below projections of one million before it opened.
If the lottery dollars are below projections, the state makes up the shortfall with money from other sources, or in some cases, simply gives schools less money.
The company did not offer details on the loss it foresaw but did say that it expected revenue of $1.2 billion, far below projections.
On Thursday, the Finance Ministry reported that because of an economic contraction, Japan's tax revenues last year were 5.5percentt below projections.
But the state's tax revenues have fallen $750 million below projections this year, and will deplete the $500 million reserve fund.
