Late today, Governor Bev Perdue took to the bully pulpit to encourage the General Assembly to hurry up and pass a budget because the state is "losing" $5 million a day in lost new tax revenue and spending cuts.
said Wednesday the state stands to lose $5 million a day because there
are no program cuts and no new revenue is being generated.
That's a great soundbite she's trying to hit on there, but she might actually want to check her facts.
If you read the budget passed by the House, the taxes don't go into effect until August 1 at the earliest. The vast majority are October 1. So the state is technically not losing out on any new tax revenue for another month.
And spending cuts are in effect now. The continuing resolution she signed yesterday cuts spending to 85 percent of last year's level. So again, the state isn't losing out on any cuts.
In fact, one could make a darn good argument that the people of North Carolina are actually benefiting from a budget not being passed. They get to keep more of their hard earned money in their own pockets instead of turning it over to the government. How many jobs are being saved by the devastating tax increases not being passed? It may be too late for Amazon, but not too late for everyone else.