Maryland Budget Shortfall Swells After Latest Revenue Estimates
A two-year budget shortfall facing Maryland Gov.-elect Larry Hogan (R) swelled to nearly $1.2 billion on Monday after a state panel revised its forecasts for tax collections to reflect still-sluggish growth in the state’s economy.
The Board of Revenue Estimates projected the state will collect $123 million less in revenue than previously forecast during the remainder of this fiscal year, which ends in June, and $148 million less during the following year.
The write-downs widen what were already projected gaps of nearly $300 million this year and $600 million next year in Maryland’s roughly $16 billion general fund budget.
His camp certainly should have seen this coming, yet they still ran a campaign to restore local aid that O'Malley had cut. Cross that one off the list too of things that aren't going to happen that we can blame on someone else. Welcome to reality.
Just an example public safety and correctional service used to have 1 commissioner and 1 deputy commissioner, now there are, I believe 11 deputy commissioner's all making over $100,000 per year with each having an office associated each making $60,000. This show tolls lack of fiscal responsibility and how inflated top positions are, yet when cuts are required they always start at the bottom and make one employee absorb several vacant position with no pay increase. Same with county governments. To many chiefs and not enough Indians.
Thanks Owe Malley. So glad you fixed that structural deficit.
ReplyDeleteNow please leave our state alone.
More lovely parting gifts from the OweMalley administration!
ReplyDeleteCan't believe they are surprised...businesses, jobs and property owners left the state. People were tired of all the taxes and fees
ReplyDeleteThe biggest problem is that we have a $16 Billion budget.
ReplyDeleteState agencies are top heavy. Get rid of a lot of the managers being paid to do nothing and they will save a bundle.
ReplyDeleteHis camp certainly should have seen this coming, yet they still ran a campaign to restore local aid that O'Malley had cut. Cross that one off the list too of things that aren't going to happen that we can blame on someone else. Welcome to reality.
ReplyDeleteJust an example public safety and correctional service used to have 1 commissioner and 1 deputy commissioner, now there are, I believe 11 deputy commissioner's all making over $100,000 per year with each having an office associated each making $60,000. This show tolls lack of fiscal responsibility and how inflated top positions are, yet when cuts are required they always start at the bottom and make one employee absorb several vacant position with no pay increase. Same with county governments. To many chiefs and not enough Indians.
ReplyDeleteLarry, you certainly have a big hill to climb, but we are all behind you 100%! Godspeed! Thank you for taking on the hard work!
ReplyDeleteGov. Hogan start small just like Bob is doing here in Wicomico Co. You'll be surprised how fast the savings will add up.
ReplyDelete