Posted on 10/01/2014 3:10:16 PM PDT by Timber Rattler
Maryland is now facing a $405 million revenue shortfall over this year and next, largely the result of sluggish job growth, stagnant incomes and a weak housing market, state officials reported Wednesday.
Five years after the official end of the recession, Maryland continues to confront fiscal trouble. This latest shortfall will force Gov. Martin O'Malley's administration and the General Assembly to make deeper cuts than previously expected to balance the state's roughly $40 billion budget.
"Another year has passed, and ordinary families and small businesses haven't even recovered to where they were before the financial collapse, much less made up for the wages they've lost," Comptroller Peter Franchot said. "We need to recognize that hope is not an economic strategy."
(Excerpt) Read more at articles.baltimoresun.com ...
In other news...
Beretta to move manufacturing jobs out of Maryland, blames state gun laws
Because Maryland’s last tax increase failed, they will have to increase taxes EVEN HIHGER this time.
Guess we will have to change to another strategy. /s
He also apparently had a meeting with gubernatorial candidate Anthony Brown today, who wouldn't listen either.
Talk about Saul being on the road to Damascus...
I didn’t bother to look to see the history of Maryland’s tax increases. But Arthur Laffer has the last laugh: You cannot increase tax rates and thereby increase tax revenue when you are past the tax revenue maximizing rate.
Just sayin’, it’s danged near Econ 101.
And Demoncrats fail again, and again, and again.....
Socialism at work. Isn’t it wonderful? But, the ill-informed will keep voting in failure.
Franchot is about the only somewhat sensible Democrat here in Maryland.
And here I thought the casinos would take care of all our money problems.
And as of today, we get to pay Maryland sales tax on our internet purchases from Amazon.com
I heard on WMAL radio this morning that the latest polling shows Larry Hogan with in 4 points of Brown. And the Dems are apparently running scared. the are upping the “republican War against women adds” while not responding to Hogan’s message of cutting taxes, repealing the rain tax, and getting businesses back in the state.
It would be interesting if Franchot decided to declare support for Larry Hogan.
Everyone will cry and moan about this and then the population will dutifully go to the polls and re-elect the same Dems who turned Maryland into a debt-ridden, Socialist Hellhole.
Voting for Hogan — definitely.
Not buying stuff from Amazon anymore — thanks for letting me know.
The silver lining in this is that it may keep my wife off Amazon. I’m starting to know the UPS man on a first name basis.
Reason #4937 I am leaving this psychotic state and the lunatic liberals in Montgomery, Prince George’s, and Baltimore. Even if by some miracle Hogan is elected, he won’t be able to change the sick culture in those counties and fight the libs they send to Annapolis. I Iove this state but it’s hopeless. I sold my house and I am out of here.
Now if I can just find a miserable shack on five or ten acres in Virginia...
Bummer!
Hmmm, sounds like racehorse political reporting. Hey, they have to make it sound competitive! Never fear. Balto City and Co, PG Co, MonkeyCo, and Howard Co will all fall in line for Placeholder Brown, rendering the rest of the state (as usual) helpless.
Maryland “Freak State” PING!
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