Watching the Budget

Discussion in 'Economy' started by alan1, Jan 14, 2009.

  1. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    Seems that everybody is watching their budgets these days.
    The finance sector
    the retail sector
    dining establishments,
    auto dealerships,
    In fact, pretty much every sector of the US economy is taking a good hard look at their budgets and trimming things, focusing on spending wisely except one.

    STATE GOVERNMENTS

    Seems that almost every state government is increasing it's spending/budget.
    You think they are counting on the feds to bail them out?
    It seems that the states think the Federal government is some sort of Rumpelstiltskin that can spin gold out of straw and rescue them.
     
  2. garyd
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    garyd Senior Member

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    They don't have a choice in many cases bat boy. It's called unfunded mandates handed down from the Feds to the states and when unemployment goes up so do the cost of a lot of those unfunded mandates.
     
  3. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    Except most of what states spend tax dollars on are not mandates. Mostly it's what the state chooses to spend money on.
     
  4. garyd
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    garyd Senior Member

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    Teachers, Cops, lawyers, roads, bridges, government services, It is by the way when one gets to the last of those damn hard to sort out what is and what is not a government mandate. By the way it is likely that The teacher student ratio - al ong cherished shibboleth of the teachers unions - will be mandated by the feds by the end of Obama's first term.
     
  5. editec
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    editec Mr. Forgot-it-All

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    They are? News to me

    Maine budget cuts outlined


     
  6. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    I said almost every state, not all.

    South Carolina cut their budget to.

    Although, in government-speak, you have to pay close attention to "cutting the budget'. Since most governments are automatically assumed to increase by 10% year to year, many states call a less than 10% increase a cut.
     
  7. garyd
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    garyd Senior Member

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    As I recall there are 30 some states that have a mandatory balanced budget. This means when revenues decline the budget must as well. To my mind this is a good thing.
     
  8. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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  9. random3434
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    random3434 Senior Member

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    Interesting. I am a teacher, and my paycheck when DOWN on Jan. 5th (my first payday of the new year.)


    How many college educated jobs are there where your salary goes DOWN every year? :confused:
     
  10. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    Has your salary gone down every year?
     

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