New Hampshire Budget Shortfall is Worse than Expected

 This recent New Hampshire Union Leader article points out that the projected $50 million shortfall fo this fiscal year alone was wildly optimistic. So was the projected $150 million dollar shortfall over the two years of the budget. From a new report by  Charlie Arlinghaus, president of the Josiah Bartlett Center for Public Policy, we now learn the following.

 “revenues will end the year at least $91 million behind the budget and even higher if business taxes also deteriorate. The two-year budget shortfall will be between $205 million and $250 million.” The fiscal year ends on June 30, 2008, and the two-year budget cycle ends on June 30, 2009.

 And he is being conservative in his two year estimate.

Arlinghaus said without any mitigating factors the shortfall could be as high as $296 million by June 30, 2009. However, he said that uncertainty surrounding revenue from business taxes, insurance taxes and Medicaid enhancement lead him to conclude that the revenue shortfall “will be between $205 million and $258 million.”

 This is the same man who warned governor Lynch that the revenue estimates from all of the increased taxes were way to optimistic to support Lynch’s unheard of spending increases. Governor Lynch, drunk with his new liberal tax and spend power, refused to listen to reason as he began rolling around on the floor in piles of new money that formerly belonged to the taxpayers.

 Well governor, you better stop blaming the president for your irresponsible spending and do something. And by something I don’t mean rasing taxes again. You tried that once, and this is what happens.

CUT SPENDING NOW. Return New Hampshire to it’s fiscally responsible self, grow up and take responsibility for your actions. You were warned from the beginning, so stop whinning about the national economy and do what is right.

 You fucked up, it’s okay. NOW FIX IT!