Good Budget Principles are Practical

More from John Hood:

So what would you do?

That’s supposed to be the devastating comeback whenever one challenges the direction of North Carolina’s recent fiscal policies. Since the onset of recession in 2000, the state has experienced five straight fiscal years in which the state budget has been out of balance at some point. Now two more fiscal years can be added – 2005-06 and 2006-07 – since Gov. Mike Easley and legislative leaders say these budgets will also show deficits without new taxes.