Posted by Ray Haynes at 12:00 am on Mar 29, 2009 2 Comments
Ok, so…….where exactly are the cuts in this new budget?
I only asked because I am a little confused. If you read
the LAO’s analysis in the voter pamphlet about the "budget
solutions" that are leading to the need for the May election, it
says that the budget solutions included (1) $15 billion in spending
reductions; (2) $12.5 billion in tax increases; (3) $8 billion in
federal funds; and (4) $5 billion in borrowing from the
lottery. We also know that another $1 billion is coming from
redirecting funds from health programs and the First Five program,
all to solve an approximately $40 billion difference between the
baseline spending (what the state wanted to spend) and projected
revenue (what the state expected to collect in taxes).
Now, we know that tax increases, borrowing, redirecting money
from other accounts and federal funds are all designed to avoid
having to cut the base of any program. These are "revenue
enhancements" specifically designed to avoid "deep and painful cuts
in essential state services," like free health care and education
to illegals and free abortions to teenagers, and six figure
salaries… Read More