In 1970 when an oxygen tank on Apollo 13 exploded, the choice was not whether to land on the moon. The choice was between not landing on the moon and certain death of all on board. Likewise for the passengers of the Titanic; the choice was to find a lifeboat, or die. Ignoring a disaster in hopes that it will go away usually makes the disaster worse. Arizona's state budget is such a disaster. Just three months into the fiscal year, the revenue shortfall is $300 million. The state appears headed into a $1 billion financial hole, better than 10 percent of the general fund budget. Byron Schlomach, Ph.D, is director of economic policy at the Goldwater Institute. |
Learn more: Goldwater Institute: "Dollars and Sense: How Arizona's Spending Choices Affect Our Future" Joint Legislative Budget Committee: Economic and Budget Update Joint Legislative Budget Committee: Highlights of the Fiscal Year 2009 Budget |
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