Budget on a Collision Course with Disaster
Instead of making those tough decisions, Governor Brad Henry accepted $2.6 billion dollars from the so called stimulus package, which only delayed the necessity of prioritizing the budget. Since the legislative session ended in May, the state budget shortfall is now running close to $900 million. Over the last two months agencies have been forced to trim their budgets by at least 5%. Now there is talk of dipping into the Rainy Day Fund to once again put off the inevitable of prioritizing the budget.
Unfortunately, Oklahoma is between the proverbial rock and a hard place because of the money we accepted from the stimulus package. Oklahoma's budget is now tied to federal spending mandates. According to the Tulsa World, "The range of those (Oklahoma's) decisions is limited." Taking federal stimulus money has obligated the state of Oklahoma to maintain benefits or eligibility for basic programs through 2012 (9-18-09).
$1.2 billion dollars was to be used for budget stabilization. That didn't work! Not only was the budget not stabilized, the deficit is now projected to be $900 million this year. The primary requirement for using the money, according to our own 2010 Budget Review, is that Oklahoma must never reduce education spending until 2012. Over half of our state budget is in the hands of Obama and Washington politicians, while revenues continue to slide. That will mean Oklahoma will have to drastically cut budgets for social services, roads, and bridges or go bankrupt if we do not return the money.
This problem did not begin with the stimulus plan. Governor Henry has had a habitual history of growing our State Budget at an alarming rate. Between 2004 and 2007 state government grew three times faster (28%) than the private sector grew (10%). Over the last eighteen months during the recession, 36,000 private sector jobs have been lost in Oklahoma, yet government jobs have increased by 8,600.
As Governor, I will make tough decisions to help steer us away from a collision course of disaster brought on by fiscal irresponsibility. I have a better plan than President Obama and Governor Henry.
First, we must cut the strings with Washington D.C. and immediately give the stimulus money back. Second, we must be good stewards of taxpayer dollars by prioritizing spending and cut one billion dollars from our state budget. Third, implement spending caps to insure government never grows faster than the private sector.
Yesterday's problems can no longer be ignored and pushed off until tomorrow. Oklahoma still has a chance to survive. Since most of the money from the stimulus package has not been spent, we should cut our ties with Washington D.C. Oklahoma's budget should be controlled by the state legislature. The leaders of this state should take responsibility to protect the rights of the citizens of Oklahoma by prioritizing the budget and lead with "No Strings Attached."
Latest Commentary
Wednesday 31st of January 2024
Wednesday 31st of January 2024
Wednesday 31st of January 2024
Wednesday 31st of January 2024
Wednesday 31st of January 2024
Wednesday 31st of January 2024
Wednesday 31st of January 2024
Wednesday 31st of January 2024
Wednesday 31st of January 2024
Wednesday 31st of January 2024