$370 Million In The Hole
“$370 million in the hole.
“That’s not good,” said Senate Majority Leader Bob Stenehjem, R-Bismarck. “We’re going to have to prioritize our funding.”
For perspective, it’s important to know that it’s typical for the session to have red ink in its fledgling bottom line at this midpoint, when priorities haven’t been solidified.
The difference is that in the past, the amount has been a tenth of what it is now. Last session, the budget was
$38 million in the hole at crossover. Six years ago, it was $31.2 million.
As in other sessions, legislators have taken the governor’s budget, which calls for an ending balance of $412.7 million on June 30, 2009, and gone to work rewriting it to their own liking.
While the governor assumed $2.291 billion in general fund revenues and $2.468 billion in general fund spending (the difference comes from the surplus), legislators have proposed subtracting from the revenue with tax reduction bills totaling a net $170.5 million. They’ve also proposed adding a net
$208.5 million more general fund spending.
They, too, have the surplus to fall back on, though both lawmakers and the governor say they want much of it socked away for the future. ”
That’s not good? That’s not good the good Majority Leader says. Well good call picking that up, it’s clear you have a keener eye than the rest of us. It is a great thing The People have you in charge.
The good Majority Leader has a knack for downplaying the outrageous. I hope he can finish his morning coffee in time to do something about this highway robbery that his colleagues are perpetrating on the taxpayers.
You’re right Mr. Stenehjem, that’s not good.
$370 million in the hole.
You’ve got to be kidding me.