This AP article discusses some tax cuts and government benefit programs that may be coming to an end – see if you detect the economic fallacy: A tax cut that reaches 160 million Americans and government aid for the long-term unemployed will expire at the end of the year – and suck $165 billion out [...]
Where Have I Seen This Before?
Many of you may remember a couple of months ago that the Civitas Institute created an interactive “Balance the State Budget” tool for citizens to select from a menu of options of cost-saving measures to arrive at the then-budget deficit of $3.7 billion. The webpage was a hit with viewers, as it was one of [...]
State Employee’s Group Offers Mixed Bag of Budget Suggestions
Today the State Employee’s Association of North Carolina (SEANC) held a press conference touting their new report entitled: “Take Pride in North Carolina: A Budget Report Containing $10 Billion in Savings.” The report can be found here. The report contained some good, and some not so good, suggestions. And make no mistake, very few of their recommendations [...]
Here We Go Again
Gov. Perdue was reportedly “over-the-top happy” at the news that North Carolina’s state budget deficit is now being projected to be “only” $2.7 billion, down from the previous estimate of $3.7 billion. A substantial share of the decline in the projected budget hole comes from new revenue projections coming in $600 to $700 million higher than [...]
N&O Misses Boat on Golden LEAF
The N&O here appears to begrudgingly approve of the efforts in SB 13. The bill, among other things, would divert Golden LEAF’s share of this year’s annual tobacco settlement money to the General Fund to help balance the state’s budget. The N&O article, however, warns against dissolving the organization and making its roughly $500 million endowment available [...]
