States Making Cuts - Are They Smart, Enough?
With many legislative sessions close to wrapping up, state budgets are dominating local headlines. The general story is that states are favoring expenditure cuts over revenuehikes to close gaping budgets. That is good news for businesses and taxpayers, particularly in this economy. But are states making smart cuts? Are they cutting enough? Will the cuts cause short term pain, long term consequences or both.
Check out these articles and leave a comment with your opinion:
Today's Worthington (MN) Daily Globe read - State economic development funding falls victim to budget
"Minnesota economic development programs would be trimmed $21 million in a year when many programs are facing cuts in light of a $4.6 billion state budget deficit."
In Nevada, the Las Vegas Sun announced - Salary cuts, furloughs OK’ed in budget deal
"State workers will take a 4 percent pay cut by being forced to take one furlough day a month while teachers and higher education employees also will be asked to take a 4 percent cut."
The Boston (MA) Globe offered this dire headline - State budget to be 'doom and gloom' for years to come
"The state’s commitment to health care reform, its funding levels to cities and towns, and the amount of money that goes to education could all be dramatically restructured."
The Detroit (MI) Free Press announced - Michigan lawmakers OK furloughs, budget cuts
"About 300 state employees face layoffs – including 100 State Police troopers – and most state workers will take six unpaid days off before October under a $300 million budget-cutting plan approved by lawmakers today.
The cuts...will slash $41 million in state aid to local communities...and a long list of human services programs would be reduced or wiped out.
The budget cuts are the first step toward erasing a projected $1.3-billion deficit for the current year...the rest of the $1.3-billion deficit will be filled in with about $1 billion in federal stimulus money."