There’s an old saw that says:
There’s a reason it’s called “Risk Taking”. If there wasn’t, they’d call it “Sure Thing Taking”.
The same holds true regarding decisions of fiscal responsibility.
It would seem that the state of North Carolina is running a deficit of about 15%. Our budget is $19 billion and the deficit is $3 billion.
That is some serious spending that no one can afford.
Raleigh | Republicans in North Carolina picked up historic authority from voters Tuesday, sweeping Democrats out of power in a government shake-up that the state hasn’t seen since the 1800s.
And what do the new leaders plan to do with their new-found majority?
Fiscal analysts have projected a budget deficit of more than $3 billion, and Republican leaders in the General Assembly said after their election victories Tuesday that they want to reduce the budget to about $16 billion from the $19 billion spending plan passed in June.
Boom goes the dynamite!
And do these Republicans know what is ahead? You betcha!
Top Republican lawmakers say their plans to balance the state budget next year solely through spending cuts will likely be painful for many people.
And so it goes.
When a State spends more money than it has it will become incumbent upon those in power to reduce spending. And that will, by definition, impact those who depend on that spending.