So that’s what an $8 billion deficit looks like
Some bait and switch.
The governor released his budget yesterday. For two years, maybe three, all we have heard is there is an $8 billion deficit. Doing a little knapkin calculation, let’s figure General Revenue spending of $25 billion a year, a two year budget, so an $8 billion deficit is $4 billion a year; that’s a pretty healthy chunk, almost 20 percent. Sounds serious. Must be expecting that $25 billion to drop to $21 billion, eh? That’s gonna hurt.
So, let’s see, starting with 2011 spending at $26.7 billion, factor in about a 20 percent drop, so 2012 spending is . . . $26.9 billion. Huh? How did a $4 billion drop turn into a tiny little increase?
Well, they must have packed it all into the second year . . . Wow . . . an $8 billion drop from about $27 billion is about $19 billion . . . that’s really gonna hurt . . . so, looking at the budget, it’s $28.6 billion, a drop of . . . wait, an increase of $1.7 billion? So, we’re almost $10 billion ahead of where they said we were going to be?
Boy, this stuff is painful. These cuts can be called only Draconian.
Just makes you wonder what they think a deficit is.
Personally, I think the budget should be $50 billion. That means we’re looking at a deficit of more than $20 billion. Wow, just think of the cuts involved when I raise the spending by $1 billion next time!