Deeper budget cuts may be needed to satisfy Wall Street, a top senator said Thursday, as a decade of heavy borrowing is forcing a call for higher budget reserves, which now loom as a driver of lawmakers’ spending decisions.

Gov. Rick Scott appointed former CIGNA executive Jack Miles to take over the Department of Management Services, an agency frequently criticized for sloppy management of the state’s property and contracts.

The chairman of the Senate budget committee that pays for the courts flayed two Florida appellate judges Wednesday for their role in constructing a new 1st District Court of Appeal building critics have dubbed the "Taj Mahal" for its perceived grandeur while other courts struggle under budget constraints.