Maryland Leaders Predict Slowed Economic Growth In 2013

Maryland's budget will see a surprise surplus of $195 million this year, officials announced Wednesday, but Comptroller Peter Franchot warned lawmakers they should anticipate an economy that will get worse over the next couple years.

Economic growth is expected to slow this year to 4.2 percent and next year to a meager 2.8 percent -- a much slower rate than officials expected, Franchot said.

"Given this extraordinary degree of economic volatility and given the growing likelihood that conditions will worsen before they begin to turn around, I would strongly encourage our state's leaders to proceed with the highest possible degree of caution," he said.

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