chouji: blog 
chouji's blog
nc budget reviewed
Published Jul. 22, 2009Views: 242
I actually went through every budget proposal ever released and looked through each spending cut, program cut, spending increase and new program introduction.
I almost feel sympathetic toward the people having to go through the budget. Unlike soverign countries, each state in the Union is required to have a balanced budget, so at the end of the day the books have to be balanced.
Here are some interesting program cuts I found in the latest proposal:
- 37.4% reduction in Medicare. The state-run health programs received the largest budget cuts by far. ($1.377 billion saved.)
- 10.9% reduction in UNC costs, mostly from wacky pet projects. ($328 million saved.)
- 55.6% reduction in Worker's Compensation Fund. ($2.5 million saved.)
- 16.8% reduction in General Assembly costs. ($10.4 million saved.)
- Completely eliminating the Salary Adjustment and BRIC funds. ($176 million saved.)
- Refinancing the state's debt. (North Carolina has an "AAA" credit rating, the highest possible, and very little debt. $7.5 million saved.)
Every coin has two sides, so here are the increases:
- Commerce. At least they cut funding for the Korean Trade Office, since no ship or plane could possibly reach North Carolina from Korea. ($29.8 million spent.)
- Severance. The more the state lays off, the higher the severance payments go. ($48 million spent.)
And, of course, the additions:
- Matching Federal funds for developing water resources. Apparently, "bailout" means "high-interest loan" and not "free money;" just ask Goldman Sachs. ($7.15 million spent.)
All in all, the budget will be reduced by $3.5 billion, or 15.9%.
More information is available from the NCGA Fiscal Research Division.
Filed under: Politics
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ahhhhhhhh... NC has borrowed more money in the past 10 years than in the previous 50...I am finding this one hard to swallow
Otherwise, great blog
GOLO member since July 2, 2007
July 22, 2009 8:37 p.m.
GOLO member since October 18, 2007
July 22, 2009 9:36 p.m.
GOLO member since November 5, 2009
July 23, 2009 12:28 a.m.
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