The Holden Administration is dealing with a budget crunch and lower than hoped for tax revenues by cutting $67.1-Million in planned spending and by eliminating hundreds of positions. The good news for state workers is that most of the 870 positions being eliminated are currently unoccupied. Only 96 employees are being laid off. The cuts were announced by State Budget Director Linda Luebbering, who says they are necessary because of a shortfall that could swell to more than $300-Million by the end of the fiscal year. There are no further cuts to higher education, which has already been hit hard. In a statement, Governor Bob Holden says that by moving forward on securitization proposals, the state might be able to prevent future witholdings to education, including higher education.