Wisconsin skips paying debts to cover tax cuts

Nyvin

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Scott Walker has handed out over $2 billion in tax cuts over his terms and now Wisconsin finds itself with a $283 million hole to fill by June. Walker's answer to this problem is to simply ignore the debts and push them to the next fiscal year.

The finances of Wisconsin are turning into a complete mess with the 2 year budget now projecting over a $2 billion dollar deficit that will need to be filled probably in the next 9 to ten months. Discretionary spending in the state has been cut so much already (especially education...) that Walker has extremely little wiggle room left, as can be seen by the desperate move of skipping payments due by the end of June.

If this is "fiscal responsibility" that the GOP talks so much about I'm really fearful of our future should Walker get elected president....
 

The Rabbi

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Scott Walker has handed out over $2 billion in tax cuts over his terms and now Wisconsin finds itself with a $283 million hole to fill by June. Walker's answer to this problem is to simply ignore the debts and push them to the next fiscal year.

The finances of Wisconsin are turning into a complete mess with the 2 year budget now projecting over a $2 billion dollar deficit that will need to be filled probably in the next 9 to ten months. Discretionary spending in the state has been cut so much already (especially education...) that Walker has extremely little wiggle room left, as can be seen by the desperate move of skipping payments due by the end of June.

If this is "fiscal responsibility" that the GOP talks so much about I'm really fearful of our future should Walker get elected president....
You ought to link Bloomberg, the source.
You dont have the chops to even begin discussing this with any intelligence at all. Needless to say, another Walker hate thread to derail his campaign.
 

NoTeaPartyPleez

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Scott Walker has handed out over $2 billion in tax cuts over his terms and now Wisconsin finds itself with a $283 million hole to fill by June. Walker's answer to this problem is to simply ignore the debts and push them to the next fiscal year.

The finances of Wisconsin are turning into a complete mess with the 2 year budget now projecting over a $2 billion dollar deficit that will need to be filled probably in the next 9 to ten months. Discretionary spending in the state has been cut so much already (especially education...) that Walker has extremely little wiggle room left, as can be seen by the desperate move of skipping payments due by the end of June.

If this is "fiscal responsibility" that the GOP talks so much about I'm really fearful of our future should Walker get elected president....

I think Sam Brownback did something like this in Kansas, too.

Despite Kansas’ Continuing Economic Disaster, Sam Brownback Promises To Abolish Taxes

When Brownback first proposed giving away a $600 million budget surplus courtesy of his Democratic predecessor and add in another $1.2 billion for tax cuts for the rich and corporations, he knew the effects on the state would be devastating to the people. In fact, the recently ‘former’ head of the GOP warnedBrownback at the time his trickle down tax cuts for the rich “will bankrupt the state within two years.” The House Democratic leader, Paul Davis said, “There is no feasible way that private-sector growth can accommodate the price tag of this tax cut for the wealthy. Our $600 million surplus will be a $2.5 billion deficit within just five years.” Instead of heeding the warnings, Brownback promised his tax cuts for the rich will produce nothing but economic success and gave thanks “for how god blessed our state.”

Apparently the damage to Kansas’ economy and its citizens from his Koch-Norquist tax-cutting scheme is insufficient for Brownback. During his recent state of the state speech he told Kansas lawmakers he had no intent of changing course and would accelerate his trickle down attack on government and the people. He also revealed that he was emboldened and came up with a new plan to punish the people after being in consultation with business and industry leaders regarding “our shared concerns. They have been generous with their time and frank with their advice, and we will continue our march to zero income taxes.”

Despite Kansas Continuing Economic Disaster Sam Brownback Promises To Abolish Taxes
 

NoTeaPartyPleez

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Scott Walker has handed out over $2 billion in tax cuts over his terms and now Wisconsin finds itself with a $283 million hole to fill by June. Walker's answer to this problem is to simply ignore the debts and push them to the next fiscal year.

The finances of Wisconsin are turning into a complete mess with the 2 year budget now projecting over a $2 billion dollar deficit that will need to be filled probably in the next 9 to ten months. Discretionary spending in the state has been cut so much already (especially education...) that Walker has extremely little wiggle room left, as can be seen by the desperate move of skipping payments due by the end of June.

If this is "fiscal responsibility" that the GOP talks so much about I'm really fearful of our future should Walker get elected president....
You ought to link Bloomberg, the source.
You dont have the chops to even begin discussing this with any intelligence at all. Needless to say, another Walker hate thread to derail his campaign.
Ain't on Bloomberg, boob. It's on the uber-conservative Washington Times.

Wisconsin’s 2-year budget hole forecast at up to $2 billion
Wisconsin s 2-year budget hole forecast at up to 2 billion - Washington Times
By SCOTT BAUER - Associated Press - Friday, January 23, 2015
MADISON, Wis. (AP) - Gov. Scott Walker will have to plug a roughly $280 million budget shortfall by the end of June, and the state faces a two-year deficit that could be as large as $2 billion, based on new estimates released Friday by the nonpartisan Legislative Fiscal Bureau.

The budget poses both a problem and opportunity for Walker as he begins his second term and positions himself for a potential 2016 presidential bid. Walker touts his management of a roughly $3 billion budget shortfall four years ago when he speaks to conservatives around the country, and now he faces another large deficit in the face of a possible presidential run.

Deep cuts across state government are likely, which would please fiscal conservatives, but it will be difficult for Walker to follow through on promised tax cuts. Walker and Republican legislative leaders have stressed for weeks that difficult decisions lie ahead.

Wisconsin’s two-year shortfall hits about $2 billion when state agency requests - which will certainly not be filled in full by Walker or the Republican Legislature - are taken into account. The budget will be about $650 million short by mid-2017 just to continue spending at current levels.





Read more: Wisconsin s 2-year budget hole forecast at up to 2 billion - Washington Times
Follow us: @washtimes on Twitter
 

Talkie

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Wisconsin universities used to be among the best in the nation. Now I lie about where I grew up because I am so ashamed and disheartened about Wisconsin. I'm sure my parents are rolling over in their graves.
 

The Rabbi

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Wisconsin universities used to be among the best in the nation. Now I lie about where I grew up because I am so ashamed and disheartened about Wisconsin. I'm sure my parents are rolling over in their graves.
Kewl story, bro.
 

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