No Small Potatos In Idaho....the grave yard is empty
Remember, collective Government consumption is about half the GDP in America....and government revenuesa are evaporating.
The Legislature's budget chief says Idaho's grave financial picture may require major reforms in state programs, including additional austerity measures and possible fee increases at universities and state parks.
Cathy Holland-Smith, the legislative budget director, told legislators Wednesday that she's heard suggestions lawmakers unearth "skeletons" to help make up a projected $151 million budget shortfall and meet the Idaho Constitution's demand for a balanced budget.
"I've been to the graveyard; it's empty," Holland-Smith told the Senate and House Joint Finance-Appropriations Committee.
The recession has driven state unemployment to nearly 10 percent. Fiscal year 2009 tax revenue declined more than 15 percent from 2008 to just $2.46 billion. Revenue is expected to fall an additional 3.6 percent in the year that began July 1.
Based on recent September tax receipt reports....3.6% seems like a good start but no where close to where things are headed.
Again, unless America restructures debt....we will simply keep cutting and cutting and cutting to meet debt service....until there is nothing left to cut or we have the entire nation protesting in the streets like San Juan today.