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From GoLocalProv.com by GoLocalProv Business Team:
For Rhode Island, 2012 may prove to be one of the biggest years for economic turmoil. The unemployment rate, the bankruptcy of numerous municipalities, the collapse of 38 Studios, and the continued reinvention of the relationship between government and public service employees are some of the milestones and it is still only May.
The State Budget – while much is grim in Rhode Island, the revenue numbers came in higher than what Governor Lincoln Chafee had forecast against. The result, most of Chafee’s budget balancing revenue proposals can be eliminated and a flat budget can be achieved without new taxes.