Governor’s budget will close $1.3 billion deficit, invest in job creation, reform pension system
ANNAPOLIS, MD – Governor Martin O’Malley and members of the Governor’s budget team will outline the FY12 budget proposal, which will be submitted tomorrow to the General Assembly. The Governor’s FY12 budget proposal will close a budget deficit of more than $1.3 billion, focus valuable resources toward job creation initiatives, and propose a series of reforms to put the state’s pension system on a path of sustainability.
Earlier this month, Governor O’Malley delivered remarks to local leaders before the Maryland Association of Counties Annual Winter Conference, where he directly addressed one of the most pressing challenges in the upcoming budget debate – pension reform.
Over the past four years, the O’Malley-Brown Administration has cut $5.6 billion from the state budget, including 4,200 state positions. The state faces an approximate $1.3 billion budget gap for FY12, which the Governor has committed to closing with a budget proposal depending on cuts rather than new taxes.
Tomorrow’s budget briefing will be broadcast live on the Governor’s website, accessible here.
2 comments:
Sounds great to me. Let the Chinese consumer carry the world economy on their back for awhile. Lets get back to manufacturing items here and selling them for a profit all the while allowing the American consumer to work and save instead of depending on us to drive ourselves in debt shopping at the mall just to "create jobs".
anonymous 11:12, I don't blame you for using "anonymous" because I know you wouldn't want everyone to know just how dumb you really are.
America offers FREE TRADE to other Countries importing products here. It's NOT the same for America selling products to other countries.
It has taken decades for other countries to fool America by offering free land and massive tax breaks to American companies to move their and manufacture outside America. Now that have us by the you know what.
We cannot afford to rebuild manufacturing in America because the big box companies selling these products demand such a cheap price, unless you work for $2.00 an hour, it's never going to happen again.
ALL of our former Presidents over the last 30+ years sold out America to make it look like we were stronger than ever before. Instead, we've become weaker, the dollar is dropping in value and we're no longer the leading manufacturer we used to be.
Give it some time and you'll see what I mean. I've been watching us fail for many years now but no one seemed to listen. Not that I could have done anything about i9t anyway.
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