Stop Digging The Debt Hole
RALEIGH (By John Hood, Carolina Journal Online) - I know that Gov. Beverly Perdue and incoming Senate Majority Leader Martin Nesbitt are intelligent individuals. I don’t know why they continue to advocate foolish ideas.
The problem is, again, budgetary. Recent news headlines point to another rough fiscal year for North Carolina state and local governments. From July to October, state revenues fell 1.5 percent short of the already dreary forecast state lawmakers had assumed when crafting their 2009-10 budget. By itself, that doesn’t constitute another crisis, given a budget cushion the governor put in place back in July.
But when you add to that the fact that North Carolina’s unemployment rate is likely to remain sky-high and our Medicaid program is spending money faster than expected, it’s not hard to conclude that when the legislature reconvenes in 2010, it is likely to face another round of difficult decisions.
The problem is, again, budgetary. Recent news headlines point to another rough fiscal year for North Carolina state and local governments. From July to October, state revenues fell 1.5 percent short of the already dreary forecast state lawmakers had assumed when crafting their 2009-10 budget. By itself, that doesn’t constitute another crisis, given a budget cushion the governor put in place back in July.
But when you add to that the fact that North Carolina’s unemployment rate is likely to remain sky-high and our Medicaid program is spending money faster than expected, it’s not hard to conclude that when the legislature reconvenes in 2010, it is likely to face another round of difficult decisions.
posted by BP News Bureau | 12:42 PM
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