Posted on 08/12/2010 7:09:36 AM PDT by TonyInOhio
In yet another reminder of the perilous nature of Ohio's future budget situation, the nonpartisan Legislative Service Commission today laid out how much one-time money is being used to balance the current two-year budget compared with recent years.
A memo to members of the Budget Planning and Management Commission calculated the amount of one-time money in the current budget at $8.4 billion. The bipartisan budget panel was created to identify options for dealing with the 2012-13 budget shortfall.
Ohio is in deep trouble; we already are among the bottom five states in job creation over the past decade, and the looming budget crisis will only worsen the situation. Yet, we've managed to keep all of those State workers and teachers happily employed, and my local school district is building two new elementary schools.
Something has to give, and something will. John Galt was right.
All the Obama Democrats are doing with their “stimulus” bills is charging the various state’s Visa bill to the Fed taxpayers Master Card.
Like this latest bill to bail out the teachers union, the bulk of the Fed “Stimulus” spending went to bail out local and state Governments. The Dems theory is the economy will recover and local tax revenues will come back up before this new “Stimulus” spending is exhausted thus preventing any mass layoffs in their Government Employee Union political base.
Now they are running out of Stimulus money, the economy isn’t recovering and the state and local budgets still have all most all the fat in them they had pre Recession so of course their solution is “do the same thing again”.
They’ll just petition Obama for a state bailout and he’ll oblige. The can gets kicked down the road and the federal government assumes more control over state affairs.
The only thing that will stop it will be regime change in Washington. I’m worried that the Repubs will not take Congress or the White House.....although I admit I am somewhat of a pessimist on Republican electoral chances, so I’m not saying I’m right.
Amen!
And I can’t really see it getting better before it gets worse.
Maybe I’m a Pessimist because of where I live.
I have noticed that. Are you a Republican?
Start with the highest State pension. Reduce it to equal the median State pension. Keep doing this to the highest pensions working down until the budget is balanced. Simple.
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