Florida projects budget surplus now, but faces billions in deficits later

State economists project Florida will have a $3.8 billion surplus in the next fiscal year, but that’s followed by shortfalls of $1.5 billion and $6.6 billion in the following years if spending trends from the last three years continue.

The numbers come from the Long-Range Financial Outlook , a document prepared each year by state economists to estimate the future revenues and spending for the next three fiscal years, based on the previous three years’ worth of spending.