Denial and Delay
By Byron Schlomach, Ph.D.
Several states are facing some tough fiscal times.
Despite being a cool billion short on the current year's budget, Governor Napolitano and some members of the legislature have proposed budget "cuts" that amount to leaving unspent funds unspent and vacant jobs vacant. Meanwhile, the governor's budget office is predicting future revenue growth almost equal to that of past boom times, even as experts say the state's economic recovery will be slow. As they say in the South, "denial ain't just a river in
Here we are, facing a billion dollar hole after double-digit percentage budget growth in four of the last five years and some of our policymakers can't bring themselves to cut spending by more than one-half of one percent ($100 million over two years). Delaying the inevitable will only make it that much more painful.
Dr. Byron Schlomach is the director of the Center for Economic Prosperity at the Goldwater Institute.