Senate President Mitch Carmichael says $100 million in anticipated budget cuts for state agencies are a reason officials need to carefully assess optimistic revenue estimates. “One must live within their means,” Carmichael said on MetroNews’ “Talkline. “I think it begs the question about these up and down revenue estimates we receive and this profligate spending that often occurs with enhanced revenue estimates.” State Revenue Secretary Dave Hardy announced Friday that agencies have been asked to trim budgets now while also preparing to cut for the next fiscal year. The $100 million is the anticipated cut out of the $4.7 billion general fund. The directive comes only a few months into the current fiscal year, which began at the start of July. Carmichael acknowledged the proposed cuts will be challenging for state agencies, which are likely to freeze hiring or delay capital expenditures.