Friday, January 09, 2009

The Real Numbers on Wisconsin's Budget

The Doylie BS, repeated by the MSM, is political stuff.

The actual numbers are even worse. (Kudos to Steve Walters, who put this on the 'net.)

Using a common accounting standard, Generally Accepted Accounting Principles (GAAP), state government had a record deficit of $2.5 billion when it closed its books on the 2008 fiscal year on June 30

...Berry said the GAAP deficit has tripled since 2000, when it was about $830 million. It's a troublesome trend, Barry said, especially since Wisconsin has reported a GAAP deficit for almost 20 years -- a span that includes both Republican and Democratic governors

The moniker "Party In Government," (PIG) is derived from that little fact.

Here's the nasty part:

"In dollars, Illinois's (2007) deficit was the largest of the 50 states, followed by (Wisconsin). However, after accounting for population, Wisconsin's deficit exceeded that of Ilinois: $436.54 per capita vs. $298.43 for Illinois."

Proving, I suppose, that even the most corrupt State Government in the universe has a redeeming value of sorts.

State officials rarely cite the annual GAAP deficit, as get ready to pass a budget in the worst economic cycle in decades. Instead, they repeatedly refer to the $5.4 billion deficit that Gov. Jim Doyle, on Nov. 21, said state government faces over the next 30 months.

No kidding! They don't talk about REAL numbers!!

1 comment:

Dan said...

"$436.54 per capita vs. $298.43 for Illinois."
Pikers. Each U.S. citizen owes about $450,000 in federal debt.