ANNAPOLIS, MD – Governor Martin O’Malley released this statement today following the projections from the Board of Revenue Estimates indicating state funding projections are beginning to stabilize. The Board projected a $15 million write down for FY2010, which previously withheld reserve funds will offset, and a $62 million write down for FY2011.
“While today’s budget projections clearly show we are not nearly out of the woods, they do serve as an indication that state revenue is beginning to stabilize. Still, we face a nearly $2 billion deficit for FY2011 that, together with the General Assembly, we will make the difficult decisions necessary to address.
“Together as One Maryland, we have implemented $4.6 billion in budget cuts and spending reductions, bringing this year’s General Fund spending below the level it was at three years ago. We’ve reformed our state agencies to be more effective and efficient while operating within their means, and we’ve returned an era of fiscal responsibility to Annapolis once and for all by closing an inherited structural deficit and implementing the necessary reductions to bring our budget into balance.
“While most economic indicators suggest we have turned the corner of recovery, we still have work to do to transform that recovery into prosperity for all Marylanders. We will continue to engage our small business community to create jobs, fuel innovation, and drive economic progress in every part of our State.”
Tonight, (last night) Governor O’Malley will participate in a special hour-long “Ask the Governor” broadcast on Maryland Public Television tomorrow evening, where the discussion will focus exclusively on the state budget. Senate President Thomas V. Mike Miller and House Speaker Michael Busch will join the Governor live via satellite from Annapolis to take viewer calls and emails on the state’s fiscal outlook. Viewers can email questions to askthegovernor@mpt.org or call live at 1-800-926-0629.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
What a bunch of BS, Omalley so called cuts of 4.6 billion still make his budget much higher than our past republican governor. OMalley economics like the idiot in the White House of increasing taxes on business, the working man and the wealthy just means they will receive much less revenue.
ReplyDeleteStarting his campaign mode. Tax and Spend is starting to be sugar coated. No one is talking about O'Malley's imposed taxes, no matter what you call the increases they are taxes. Nothing is said about his expansion of the top job positions and their salaries in the State Agencies while the blue collar worker is being punished. No reports on the Politians, Judges and other Good Ole Boy salary and benefit reductions while they cut and slash their workers. Remeber their policies are the same as Obama's and they believe in "Sharing the Wealth" as long as they are immune, as always. The news and blogs need to start their campaign mode / strategy.
ReplyDelete