Another revenue estimate, another write-down, more budget cuts. That's what Gov. Martin O'Malley (D) says Marylanders should brace for tomorrow when state leaders receive their latest tax revenue estimates.Last week, O'Malley predicted the new figures would show tax revenue slipping $100 million to $200 million below expenses approved for the remainder of the state's fiscal year, which ends next June.
On Tuesday, O'Malley said he'd received initial indications the gap would be larger than what he suggested last week -- as much as $300 million, or more than 2 percent of the state's $13.4 billion budget.
The governor said that while Maryland's 7.2 percent unemployment rate is better than most other states', the loss of wages is predicted to cascade through Maryland tax rolls in coming months and open up yet another budget gap that could necessitate more painful cuts.
The gap would be déjà vu to last year.
GO HERE to read more.
12 comments:
I think everyone and all of goverment are just going to have to get by with alot less than we have been used to in the past. Life changed and we all have to suck it up.
Maryland keeps cutting pay and gives furlough days, but keeps elective training for which they pay mileage, meals and lodging.
At times of fiscal crisis all but mandated training should be done away with.
If the state would cut superfulous spending it would go a long way to close the budget deficit. Thankfully we have a balanced budget ammendment in our constitution or this idiot we have as governor would have us in a situation like the other O man has the country in.
They dont know HOW to cut spending...thats what got us here in the first place!
They need to cut some programs instead of cutting the workers pay only to force them into poverty then they will have to apply for benefits.
how come my home taxes are not lower on the home i cannot sell
ACORN is safe. Milkulski introduced legislation to prevent their funding being cut. With the recent exposure of prostitution in Salisbury, there must be a number of people ACORN provides jobs for in the area.
Raise the alcohol tax which hasn't been raised since 1972.
Does anyone beieve, foolishly, that this crisis will not be worse in the next 5 years? I see no reason to think things will not get more difficult for local, states or Federal budgets. This recession is not over. If you believe it is, please tell me what industry is leading us out of it. Are JA and I the only ones who see this?
anonymous 9:02, I'll tell you what Industries the GOVERNMENT plans on presenting as a way for Americans to get out of this mess.
HEALTHCARE
ROAD CONSTRUCTION
GOING GREEN/ENVIRONMENTAL
So many Dumbocrats believe this will stimulate the economy, yet they're so dumb that they forget to realize ALL of these Industries will be funded by the TAXPAYERS.
There is not a single Industry that can ever pull us out of this debt Bush & Obama got us into.
Living the American Dream is OVER. That is, unless you're supplying the Federal Government with the paper, ink or presses Obama is using to print the useless currency the united States is now printing.
I cant understand why,at a time when state taxes are so high already,the State is unable to get it together financially.
How's that tax increase working for you O'Malley? Raise taxes and collect less money, happens every time but the dems still don't get it.
O'Malley hurts the middle class and does not spread the wealth of his buddies. He is another O man in the tax and spend Liberal Democrat agenda. O'Malley, Obama and Rick Pollitt will not cut any money from their Good Ole Boys or Tax exempt non - profit organizations because they can't justify cutting the extremely high salaries tax dollars are going for instead of where the money is supposed to be spent on. This is all because of the Maryland Cap and Trade which a lot of people does not realize has been passed and instituted by the MD Legislature.
Post a Comment