Lesley Stedman Weidenbener has an article advancing the opinion (at least via the headline) that a state revenue forecast means the General Assembly has to cut $1.1 billion in spending. This is true if 1) the forecast is accurate; and 2) the General Assembly decides not to use money the state has saved.
The revenue forecast suggests that Indiana has hit a skid. Revenue from sales, individual, and corporate taxes is all lower. The estimates suggest Indiana will have $27 million less in revenue to work with over 2010 and 2011. Democrats generally propose steering into the skid. Bill Crawford suggests aggressive job creation spending. Scott Pelath warns against taking a “meat ax” to education spending. Gov. Daniels wants to stand on the brake, saving the $1.3 billion in state reserves for when the economy isn’t doing so well.
With respect to the forecast, Pelath also throws out a variant of “figures don’t lie, but liars figure.”
And the committee’s vice chairman, Scott Pelath, D-Michigan City, criticized the forecast, an update of estimates released last month that most Republicans had complained were too rosy.
“This was a great forecast for all the people who wanted to take a meat ax to education and job-creation efforts,” Pelath said. “Certainly if you do the forecast enough times, you end up getting the answer you want.”
Gov. Daniels wants to stand on the brake, saving the $1.3 billion in state reserves for when the economy isn’t doing so well.
You’re a funny man, Doug. I just wish you were joking.
Hey- I thought that Toll Road deal was the answer to all Indiana’s fiscal problems. Just saying.