In spite of an already alarming level of debt, Raleigh and Wake County council members continue to max out the taxpayers’ credit card without even asking first for permission. In December, Wake County government completed the sale of $160 million worth of Limited Obligation Bonds (LOBs) to finance a new Justice Center.
An examination by the Civitas Institute of Golden LEAF’s grant making priorities and history suggests that the organization offers no unique benefits to the State of North Carolina. Because so many other state agencies and state-funded entities already fund the same causes, the tobacco settlement money could still be spent on the exact same programs as are currently funded by Golden LEAF, even if Golden LEAF didn’t exist.
North Carolina’s state budgetary woes took center stage once again this past summer as lawmakers grappled with a multi-billion dollar budget deficit. Filling most of that deficit was $1.1 billion in unpopular new taxes and billions more in bailout funds from the federal government.
A communication strategy aimed to educate the populous on how to avoid spreading H1N1 influenza cost taxpayers over $500,000. The means: radio and television advertisements created by the state Department of Health and Human Services (DHHS) featuring Gov. Bev Perdue. The message: remember to cough into your sleeves.
North Carolina’s state budget is already at the breaking point. In order to “balance” the current year’s spending plan, lawmakers grasped at a patchwork list of revenue, including more than $1 billion in state tax hikes, $1.4 billion in federal “stimulus” funds and nearly $100 million from various state “trust funds.”
The 2009-10 budget marks a continuation of North Carolina’s dysfunctional “spend and tax” cycle: when times are good the state dramatically increases spending. When a recession hits, state leaders resort to tax increases – such as the $1.1 billion tax hike approved this year – to continue state spending.
Greensboro residents face a staggering state and local government true debt burden equivalent to $11,200 for every man, woman and child -- or roughly $44,800 for a family of four. This amount, calculated in a report by Raleigh's Civitas Institute, reflects each Greensboro citizen's share of the total debt and unfunded liabilities accrued by the city of Greensboro, Guilford County and the state of North Carolina (the report is available at www.nccivitas.org).
Lincolnton residents face a staggering state and local government true debt burden equivalent to $9,900 for every man, woman and child – or roughly $39,700 for a family of four.
While many North Carolina voters were heading to the ballot box on November 3 to elect new local government officials, a select group of N.C. House and Senate Finance committee members met in Raleigh to discuss ways of overhauling the state’s tax code.
State and local governments across North Carolina have accumulated $85 billion in debt and unfunded liabilities. That's equivalent to more than $9,200 for every man, woman, and child across the state - or approximately $36,800 for a family of four. To better inform citizens about the fiscal condition of North Carolina's state and local governments, the Civitas Institute has tallied this comprehensive collection of true debt. The total debt burden, as of June 30, 2008, comes to $85 billion.
In a recent USA Today article summarizing how states balanced their budgets this summer, Vice President of the National Taxpayers Union Pete Sepp declared, "With a few exceptions, states have been able to avoid the doomsday projections that big tax hikes were on the way." Unfortunately, North Carolina was one of those “exceptions.”
Legislature’s Appetite for Pork Leaves Residents with $1 Billion Tax Increase A total of $1.64 billion of non-essential new spending was introduced by North Carolina budget writers during the economic boom years of 2004-05 to 2007-08, according to recent research by the Civitas Institute. This boon in non-essential spending helps explain why state lawmakers felt […]
A total of $1.64 billion of non-essential new spending was introduced by North Carolina budget writers during the economic boom years of FY 2004-05 to FY 2007-08. Like the irresponsible guy who blows his unexpected bonus buying drinks for everyone at the bar, state lawmakers decided to be overly generous with the avalanche of tax revenue being raked in during those prosperous four years.
The FY 2009-10 North Carolina $20.7 billion state budget (S.L. 2009-451) includes one of the largest tax increases in state history while increasing actual spending by $400 milloin over last year. Rather than seize on a golden opportunity to implement meaningful spending reform, state lawmakers instead used a massive $1.1 billion in new taxes to preserve the status quo.
Despite high volume rhetoric about massive budget cuts, the FY2009-10 North Carolina state budget for public education (K-12, UNC and community colleges) reduces total spending for all public education by only about 1 percent over last year’s actual expenditure levels. State spending for all public education is reduced from $11.8 to $11.1 billion. However the addition of $517 million in federal stimulus funds for K-12 and higher education offsets state budget reductions and actually increases total spending to approximately $11.7 billion.