KY Chamber Calls for Spending Control
At the Chamber's Economic Summit in Louisville this week, Kentucky Chamber President and ACCE Chair-elect Dave Adkisson called on state lawmakers to rein-in government spending and better manage the state's budget.
Adkisson is specifically concerned about state programs such, as Medicaid, prisons and public employee health care, for which spending has quickly grown and gobbled up a larger proportion of the overall budget. Meanwhile, spending on education has not kept up.
"We are now spending an increasing amount of money on what happens when you fall short on education attainment - more people in jails and more people on Medicaid," Adkisson said.
Kentucky balanced their state budget earlier this summer, but stimulus money was a big part of filling that short term gap. As with most states, a fundamental imbalance between revenue and expenditure exists. Adkisson and the Kentucky Chamber content that the long term solution is neither dramatic tax hikes nor drastic service cuts, but a third way - "modernizing government to rethink our spending, focus on our priorities and ensure sustainability." They will provide more details in the coming weeks.
Dave Adkisson is speaking on a panel about state budgets at the ACCE Convention in Raleigh later this month. Join us for State Budgets and their Impact on Local Communities on Friday, July 31 at 2:45 pm.