Having been recently sworn in, the Govna is faced with a budget shortfall of nearly 3 billion bucks. This on a total nut of 21.5 billion. We are currently budgeted to be just about 10% short. Now, to be sure, tax revenue is down, how could it not be? With unemployment at a rate we haven’t seen in quite some time, the state is simply pulling in less money from fewer people. Understandable. Same could be said for corporate and sales tax. I get it, tax revenue is down.
But serious, 3 billion down? Where else did we go wrong? Where are we spending the money that we didn’t have.
The News and Observer reported on this here. They do a fair job showing the loss of revenue, but come up short on the whole “spending side”. How are we going to manage our way out of this?