Jeff - please stop repeating the 7.3 billion dollar deficit myth. The projected deficit is 4.4 billion.
Well jeez, Jack, I’m not making this number up. I took it from a Senate fiscal analysis. You can find it here, and I’ll post a small screenshot of the numbers in question below.
Yes, the 7.3 billion dollar figure assumes that GAMC would be restored. After Pawlenty unalloted it, the program remains in law, and it’s certainly possible it could be restored. And if it’s not? Then the deficit would only be a measly $6.4 billion, after accounting for inflation. You may not want to account for inflation, Jack, but inflation happens. I would think we’d want to be prepared for it.
[By the way, even if we ignored inflation, where the heck do you get $4.4 billion??]
But quibbling over the exact numbers isn’t even the point. The point is that we are going to have a massive deficit to deal with. In this biennium, despite a $6.4 billion deficit, after one-time money we “only” had to deal with finding $2.1 billion. Even if we took Jack’s bogus figure of $4.4 billion, we’d have to find more than twice as much money in savings or revenue in the next biennium as we have in this biennium. Does anyone think this is going to be an easy task?
Sad thing is that the money TPaw shifted from this budget, the school money in particular, will never be paid back. TPaw cut millions from schools, and put it on the next administration to figure out how to pay for it. Maybe this is how they budget in the Jack Handy family, but in my family we cannot just pay you Tuesday for a hamburger today, and then just shift it later when it is inconvenient.
Another deeply hidden cost in the school shifts is the interest that districts have to pay to borrow money to pay teachers and other bills on time. Minnesota 2020 estimages it at $58 million over the biennium.
Good thing the Governor used the Democrats K-12 shift number.
And therefore, Jack Handy, YOU LIE!
Here's a gem from last night's MNGOP Candidates Forum:
Marty Seifert: What is your plan to jump start the economy? ”Our taxes are too high. Not only do we need to hold the line on taxes but repeal taxes.”
So in the face of an enormous budget shortfall, Marty wants to reduce state revenues.
Is the term "bitchslap" acceptable here? that's certainly what just happened to Mr. Handy.
Bill Clinton raised taxes and 24 million jobs were created.
George Bush lowered wealthy taxes and created 2.4 million jobs.
Tax cuts have never paid for themselves and do not create jobs. Consumer demand of the masses does, not consumer demand of the elite.
Then why won't Obama raise taxes?
He is, on those making more than $250K You should sign in, Mr. Handy.
Hmmm….what, now?
http://www.politicsinminnesota.com/2009/may13/317...
Oops.