2009 has not been a banner year for North Carolina state government fiscal issues thus far. Let's recap:
- The current year budget is facing a $2 billion hole.
- Revenue for next year's budget will fall as much as $3 billion short of projected spending obligations
- The state faces unfunded health care liabilities for state retirees of $29 billion – up $5 billion in just two years
- The state's debt capacity is virtually full – in other words it has maxed out its credit card
- The state health plan will be $1.2 billion short over the next two years
And now this news:
from the Legislature during the next two years to keep it financially sound,
State Treasurer Janet Cowell said Thursday.
Of course, "From the Legislature" means "from taxpayers."
This laundry list is indicative of short-sighted, politically motivated spending sprees by our elected officials. One wonders how the same bunch continues to be in charge given that 62% of North Carolina voters consider themselves "strongly" or "somewhat" conservative on fiscal issues. (compared to only 23% strongly or somewhat liberal)