...not only that, but the forecast ain't so hot, either:
Almost simultaneously, the Legislative Fiscal Bureau (LFB) issued cautious revenue estimates for 2007-09, and Governor James E. Doyle (D) outlined ambitious plans for health and education in his state of the state speech.
In the months to come, state lawmakers will have to reconcile the governor’s sunny proposals in the areas of health and education with LFB projections best characterized as partly sunny-partly cloudy.
DarthDoyle's spending proposals are breathtaking to say the least, and in order to finance them (or at least provide a fig-leaf for the growth of the deficit) he principally relies on two things: 1) growing State tax revenues; and 2) growing Federal aids to the State.
(He also relies on voter-stupidity and apathy, as well as a three-card-monte scheme which allows taxes from NON-State entities to grow, specifically municipals and schools. Finally, he relies on the craven greed of various rent-seekers such as the Highwaymen and State employees to corrupt the judgment of Legislators.)
But apathy, stupidity, greed, and tricks cannot overcome flawed assumptions--and Revenue Growth which does not materialize (or Federal handouts which do not materialize) can put the State into financial quicksand.
Not to mention that some tax-revenue sheep may elect to 1) leave the slaughter-line before it's their turn to give it all up for Doyle; or 2) elect not to place assets in the State in the first damn place.
This would be fun to watch, if it weren't so damn serious.
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