Posted on 01/02/2009 11:08:04 AM PST by 2ndDivisionVet
President-elect Barack Obama's plan to jolt the economy by overhauling the nation's roads, bridges and transit systems has local officials clamoring for their share despite questions as to whether the program will actually work.
"California's fiscal house is burning down," state Treasurer Bill Lockyer declared recently after a California regulatory board halted financing for some 1,600 infrastructure projects because of the state's nearly $15 billion deficit.
California's woes are far from unique, as the deepening economic crisis has wreaked havoc on state budgets across the country. At least 40 states are running deficits, forcing governors to raise taxes and trim spending while postponing urgent repairs to roads, bridges, hospitals and ports.
"Because of the downturn in revenues, we're all starting to delay construction projects that are clearly maintenance. That risks public safety," said Maryland Gov. Martin O'Malley in an interview.
The rescue plan, which Obama has called "the largest new investment in national infrastructure since the creation of the federal highway system in the 1950s," is part of a broader legislative package intended to create up to 3 million new jobs, provide tax relief to middle-class families and help governors cover the soaring costs of education and Medicaid, the public health program for the poor. It is estimated to cost as much as $1 trillion.
Lest the plan seem too much a throwback to the public works projects of the Depression-era New Deal, Obama has added several 21st-century goals, such as expanding broadband into underserved areas and making public buildings more energy efficient. But the bulk of the plan is old-fashioned construction and repair, much of which would be done by union laborers.
(Excerpt) Read more at wwlp.com ...
Since the recession hit Michigan much earlier, I think they made significant cuts to balance their buget before the fiscal year began. Many of the other states were operating under rosier revenue scenarios that have not come to pass.
Yeah, so now what they're going to do is put the money into highway construction so they can put all those illegals to work.
Ind. gov orders new budget cuts amid dim forecast
Thursday December 11
Indiana Gov. Mitch Daniels ordered most state agencies to cut their spending even further Thursday to eliminate a projected $763 million state budget deficit through next June.
Also, because Bob Byrd sends back half the federal budget to WV.
Projected deficit for Indiana, not current. Michigan is running a current budget deficit of almost a billion dollars plus more to come in the future.
Is it fair to say that all but one of these states are free from major expenses associated with illegal immigration?
That is Indiana’s projected deficit for the current fiscal year. If nothing is done to cut costs, the fiscal year ending June 30 will be in the red.
>>“Has anyone in Congress, the Statehouses or “Office of the President-elect” ever read the U.S. Constitution?”
Maybe a few, but they may have reading problems.<<
Another failure by the government-run schools.
As one who has taught in our public school system, I HEARTILY agree with you....which is why I finally left.
At least 40 states are running deficits/So much for leadership in democrat controled states.
Every governor running a deficit and running to Washington for a handout is going to lose their next reelection bid. This is choice campaign material.
Maryland "Freak State" PING!
I think when it comes to budgets, they’re dyslexic.
Here in Colorado we had surplus refunds not that long ago. The state has become increasingly blue over the past few years, and Ritter (dem) was elected governer in the last election.
Now we are running a fair sized deficit. Your theory holds true here.
In. has cash reserves ie. "rainy day funds". IL. Mi. and Oh. do not. In. will not be "in the red" if cuts are not made. Legislation to use the "rainy day fund" could offset any budget shortfall.
Thats why I laughed out LOUD at your chart. It does not give a true picture of each states current fiscal situation .
Is there a reason why Arkansas isn’t on the list?
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