Absence of $389 million federal bailout puts state in the red, breaks constitutional requirement
ANNAPOLIS – On the first day of fiscal year 2011, Americans for Prosperity-Maryland demands that Gov. Martin O’Malley heed the constitution and balance the state budget immediately. The Governor relied on $389 million from the federal government, which has not been appropriated, to put the state of Maryland in the black this year. Unlike the federal government, the state constitution (Article III, Subsection 5a) does not allow for a running deficit.
“Gov. O’Malley is breaking the bank, and now is breaking the law,” stated Americans for Prosperity-Maryland state director Dave Schwartz. “Instead of balancing the budget the correct way, the Governor used accounting gimmicks and government bailouts to close the books. The dependence on federal money is the equivalent of a household relying on a winning lottery ticket to pay for their children’s college tuition. It is irresponsible and another example of fiscal mismanagement from the O’Malley administration.”
In March, members of Americans for Prosperity-Maryland came to Annapolis and testified against the budget for fear of this scenario. AFP-Maryland believes that this type of irresponsible budget management will inevitably lead to larger structural deficits and tax hikes on Maryland families. We have been holding town hall meetings across the state discussing ways to turn around the Maryland economy – our next stop is Annapolis on Thursday, July 8th. For more information, please visit http://www.getmarylandmovingagain.com/.
“Gov. O’Malley is breaking the bank, and now is breaking the law,” stated Americans for Prosperity-Maryland state director Dave Schwartz. “Instead of balancing the budget the correct way, the Governor used accounting gimmicks and government bailouts to close the books. The dependence on federal money is the equivalent of a household relying on a winning lottery ticket to pay for their children’s college tuition. It is irresponsible and another example of fiscal mismanagement from the O’Malley administration.”
In March, members of Americans for Prosperity-Maryland came to Annapolis and testified against the budget for fear of this scenario. AFP-Maryland believes that this type of irresponsible budget management will inevitably lead to larger structural deficits and tax hikes on Maryland families. We have been holding town hall meetings across the state discussing ways to turn around the Maryland economy – our next stop is Annapolis on Thursday, July 8th. For more information, please visit http://www.getmarylandmovingagain.com/.
NO'Malley has not balanced a budget since he's been in office. This is old news.
ReplyDeleteBalance the budget by cutting waste and pet / political projects. Not by shuffling paper, robbing other accounts to make it appear legit, cut State programs such as open space, just one program are many others, and sell some of the land in this program so it can go back on the tax records. If there are not demands set such as these then you are demanding nothing.
ReplyDeleteDid Julie take credit for this, too?
ReplyDelete