Gov. Steve Beshear set the stage today for tax increases and another shot at casino gambling when he announced projections of $294 million in overspending for the current year:

“Kentucky is expected to have a $294 million shortfall in its state budget this year, Gov. Steve Beshear said Thursday.”

“At a Capitol news conference, Beshear said he would develop a plan over the next several weeks to address the shortfall for the current fiscal year, which ends June 30. He said the plan will include spending cuts and may include raising new revenue.”

Repealing prevailing wage would be a more sound policy for balancing the books than raising taxes and cutting public employee pension benefits and simplifying retirement system investing procedures would be more efficient than trying again to pass a questionable casino scheme.