Gov. Reports Surplus, Braces for Federal Cuts

The Virginian-Pilot and The Ledger-Star, Norfolk, VA › August 19, 2011

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By Julian Walker

The Virginian-Pilot

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Gov. Reports Surplus, Braces for Federal Cuts

RICHMOND

Virginia ended this budget year with a $545 million surplus, but rough times are ahead as the federal government looks to cut spending. To cope with those cuts and reassure credit rating agencies of the state's stability, Gov. Bob McDonnell wants to invest a portion of the surplus into a n...

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