ALG's Daily Grind - Deficit falls to $642 billion in 2013, but debt will still rise by more than $800 billion

May 17, 2013

Deficit falls to $642 billion in 2013, but debt will still rise by more than $800 billion

Don't forget about the government's direct and guaranteed loan programs, plus the growth of debt in the Social Security and Medicare trust funds.

Democrats Caving to Labor Pressure on Perez Nomination

ALG's Mehrens: "Perez has demonstrated time and again not only a strong willingness, but almost a zeal, to subvert the law to meet his own political agenda."

Oops, maybe government is tyrannical

Practically overnight people labeled conspiracy theorists by the elite were proven prescient interpreters of how big government operates when news broke last Friday that the IRS targeted conservative groups for special scrutiny in their tax-exempt applications.

Epstein: Watching Obamacare Unravel

"The 'Affordable Care Act' is becoming an unsustainable mess. It's time to scrap it entirely."

NH Senate Ways & Means estimates state revenues for FY14-FY15 at $4.3B

Total is $74.5M less than House, $162.7 less than Governor

Table now set for Finance Committee to finalize state budget for June 6^th Senate vote

CONCORD – The Senate committee charged with estimating revenues came out with its projections today regarding how much money will be available to fund the state’s budget for the next two years.  After Ways and Means voted unanimously to set the number at $4.3 billion, Chairman Bob Odell, R-Lempster, issued the following statement:  

    “After careful consideration, the committee believes $4.3 billion is the base amount of state revenues we can expect for FY 2014-2015.  ($2.139B FY14 + $2.193B FY15) This puts Senate revenues at $74.5 million less than what the House proposed and $162.7 less than Governor Hassan’s budget. This base amount reflects revenues that have actually come in since the governor and the House had their turn with the budget and the fact our committee anticipates only modest growth in state revenues over the nexttwo years.” 

    “For the next biennium, the Senate comes out $92.4 million ahead of the House in business taxes. However, we do project lower, more conservative totals in other traditional revenue categories based on strong returns over the last few months of the current fiscal year.”

     “The major differences between the House and Senate estimates come by way of Schedule 2 adjustments.  This is where the House counted on additional funding from a tobacco tax increase, postponement of business tax cuts, and increased revenues from new DRA audits.  At a time when the business climate in New Hampshire appears to be improving, Senate Ways & Means did not believe relying on millions in new taxes on businesses and consumers was the way to balance the budget.  As a result, when you look at total estimates after adjustments, the Senate comes in $74.5 million lower than the House for the next biennium.”

   “Additionally, when you combine the revenues we can really trust with our MET payment issues, the Senate came up $300 million short of the revenues the House used to support its level of spending.” 

NHDP - Senate Republicans Must Name Their 300M Budget Cuts

NH Families and Small Businesses "Flat Out" deserve to know what 300 million Senate Republicans have put on the chopping block

Concord - If Senate Republicans plan to double down on the failed O'Brien-Bradley budget scheme from two years ago, the people of New Hampshire deserve to know what they plan to cut.  Last week, Republican Senate Finance Committee Chairman Chuck Morse claimed the state budget the House sent to the Senate had a $300 million dollar hole and added that "flat out, the budget is going to look a whole lot different when it leaves the Senate than it does now." But Morse and Senate Republicans detailed only a small percentage of the 300 million they want to cut from the state budget, by vowing to cut funds for LCHIP and a scholarship program for underprivileged students.

"It is time for Senate Republicans to 'flat out' name their cuts," said New Hampshire Democratic Party Communications Director Harrell Kirstein.  "If Republicans plan to devastate education, kill hundreds of  New Hampshire jobs, put winter snowplowing at risk, downshift to local communities, and slash hospital funding - again - they should be honest with the people of New Hampshire about what exactly they plan to cut.  The very least Republicans can do is eliminate the uncertainty and let Granite State families and small businesses can brace themselves for another round of reckless and irresponsible Republican cuts."             

In the last budget, House and Senate Republicans made the largest cut to public higher education in American history.  They killed hundreds of New Hampshire jobs, downshifted millions of dollars to local communities, and cut services for seniors and people with disabilities in order to pay for tax giveaways to big tobacco.

"The Bradley-O'Brien budget was an epic disaster for the people of New Hampshire and for Republicans on ballot in 2012.  It's no surprise that Senate Republicans want to hide their plan to double down on this failed approach from Granite Staters, but that doesn't make it right," continued Kirstein.  "Will Senate Republicans eliminate all funding for higher education, pushing through another double-digit tuition increase? Will they cut additional aid to cities and towns, raising local property taxes? Will they cut health care for seniors, people with disabilities and children?  The people of New Hampshire 'flat out' deserve to know."

NHDP - NH Republicans Double Down on Failed O'Brien-Bradley Cuts to Critical Access Hospitals, LCHIP, Scholarships

Senate Republicans follow through on O'Brien Promise to slash NH budget

Concord - New Hampshire State Senate Republicans revealed this afternoon they plan to continue the failed O'Brien-Bradley budget policies voters rejected last fall with 300 million dollars in cuts.  Already they have vowed to cut dedicated funds for LCHIP, scholarship programs for underprivileged students, and reduce funding even below the reckless O'Brien-Bradley budget levels for critical access hospitals.  But even those programs combined aren't likely to add up to the 300 million dollars in cuts Republican Senator Morse is calling for. 

"Jeb Bradley's Tea Party Republican caucus is doubling down on the same failed budget policies from 2011 that killed hundreds of New Hampshire jobs, made the largest cut to public higher education funding in American history, and devastated essential services for thousands of Granite Staters," said New Hampshire Democratic Party Communications Director Harrell Kirstein. "What else will the Tea Party Senate Republicans put on the chopping block?  Are they going to make deeper cuts to the University and Community College Systems, forcing another round of costly tuition increases?  Will they slash domestic violence prevention funding again? What about funding for snow plows for next winter?"

Last May, disgraced Speaker O'Brien promised that if re-elected he would "go further next year, paring as much as $400 million more." [Nashua Telegraph, 5/8/2012] Almost one year to the day from O'Brien making that Tea Party oath, Republicans in the Senate announced they will be following through on his disastrous plan. 

"Clearly Republicans in Concord didn't learn anything from last fall's elections when voters rejected the O'Brien-Bradley budget's mindless cuts undermining education and quality of life in communities across the state," continued Kirstein. "Instead of trying responsible ways to balance the budget while investing in priorities that will grow the economy and move New Hampshire forward, they are reverting to the same failed Tea Party policies of the past."

StateBudgetSolutions - GAO Report Shows Day of Fiscal Reckoning is Near; States Must Take Swift Action

Alexandria, VA - Bob Williams, President of State Budget Solutions (SBS), a national nonprofit organization advocating for fundamental reform of state budgets and pensions, released the following statement regarding the recent report by the Government Accountability Office (GAO) “State and Local Governments Fiscal Outlook.” The GAO found that closing the fiscal gap in the state and local government sector would require action to be taken today and maintained for each year equivalent to a 14.2 percent reduction in the state and local government sector’s current expenditures or an equivalent 14.2 percent increase in taxes.

“We have long said that lawmakers’ approaches to drafting state budgets only put states closer to the financial cliff, and the recent GAO report illustrates just how close states are to going over the edge. The Day of Reckoning is swiftly approaching,” said Williams.

Williams explained, “The GAO report explains that the financial problems can be attributed to two main factors: by the rising health-related costs of state and local expenditures on Medicaid and the cost of pensions and health care compensation for state and local government employees and retirees. Before agreeing to expand Medicaid, state lawmakers must first carefully consider the exorbitant costs that could accompany such a decision. Federal dollars will eventually dry up. Lawmakers must also reform pensions and consider defined contribution plans that will protect citizens and retirees.” 

“One solution that can address and fix state budget shortfalls is the budgeting approach known as performance based budgeting. Performance based budgeting focuses on what taxpayers are getting for the money being spent on services right now. It ensures that state government is serving its citizens as efficiently and effectively as possible, and that the state spends only the money that it has and does not kick the can down the road to future generations,” said Williams. 

To schedule an interview with Bob Williams contact Brian Jodice at Brian@PhillipStutts.com or (202)681-3423.

###

To read Bob Williams full bio CLICK HERE.

About State Budget Solutions
The State Budget Solutions Project is non-partisan, positive, pro-reform, proactive and anchored in fundamental-systemic solutions.  The goal is to successfully engage political journalists/bloggers, state officials and opinion leaders in a new way of thinking about state government and budgets, fundamental reforms, transparency and accountability.  Sharing studies and articles, data sets, anecdotes, and compelling narrative about what is happening in state and local budgets, the State Budget Solutions Project presents and disseminates information about every aspect of coming fiscal and economic disasters and, more importantly, highlights fundamental reforms to avoid them.

Check out StateBudgetSolutions.org for more information.