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By Anonymous Mike, pseudonymously.

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Tuesday, January 13, 2009
Just So You Know

I know you love my posts on the budget, so here's one more. This one is based on today's Finance Advisory Committee presentation down at the Legislature for the Joint Legislative Budget Committee.

You really don't have to read very far into the presentation, especially Mr. Pollack's wonderful images and pictures, to get the basic gist of the 4 Sector Consensus. General Revenue will return to FY2007 levels in....


That's how bad of a hole we're in so unless you want to change the Arizona Constitution to allow the State to start carrying debt, Governor Napolitano better explain how she planned on exceeding revenue for 4 straight years or by planning each budget like the economy was going to turn around mid fiscal year "Let's assume a growth in revenue of..."


Oh for even more joy read on int he presentation for State Treasurer Dean Martin's report on the State's cash flow. I know he's just "grandstanding" and all but we're looking at a $1.4 to 1.6 billion deficit this year with an awfully big chunk of the money already spent and therefore not recoverable by spending cuts. Let's move beyond the ability to get bank loans to solve the cash flow problem that's coming in a month or two, I don't know how you will get the books to balance by the end of the fiscal year

You know things are bad when the only bright spot in the Valley this year is the Cardinals