Illinois Gov Pat Quinn vetoed the state budget Tuesday
and yet again called for an additional $1 billion in spending cuts
The proposed budget cuts include 2,600 layoffs
and up to 12 furlough days for state employees
Among the governor’s proposed cuts are
$140 million from Medicaid and health insurance
$250 million in targeted reductions in grant programs
$125 million from the Department of Corrections
$175 million cut from proposed increases for K-12 education
$25 million from other state offices, departments and agencies
$100 million in additional reserves
St Louis Business Journal, July 7, 2009
Can absorbing more small losses sooner
and keeping winners longer
increase return?
Can winning
be slowly losing for as long as possible?
Gov Beverly Perdue tried Tuesday to loosen a knot
in the state budget negotiations at the Legislature
offering her own $1.6 billion tax plan
that's larger
than either House or Senate Democrats have proposed
She has said about $1.5 billion in additional money was needed
to protect public education and other vital services
from painful cuts during a year with an unprecedented budget gap
of $4.7 billion
She suggested raising the sales tax most consumers pay
from 6.75 percent to 7.75 percent for 13 months
and place an "emergency surcharge" on the highest wage earners
such as couples who make more than $1 million
for two years
NC governor offers $1.6B tax plan to end deadlock
Associated Press, July 8, 2009
If good judgment comes from experience
does experience come from bad judgment?
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