Wednesday, January 13, 2010

Doesn't State Law Already Require We Have a Balanced Budget?

Representative Gary Alexander (R-Olympia):
Alexander also said her budget was out of balance and reiterated his call for a balanced budget amendment to the state constitution.

“If the Legislature adopted her budget today, we’d be embracing the deficit spending so prevalent in Congress and in the federal government,” Alexander said. “This is exactly why our state needs a constitutional amendment requiring a balanced budget. The temptation for continued deficit spending is too great for some to resist.
Many blast away at Governor Gregoire for saying during the 2008 campaign that the state didn't have a deficit, but she was technically correct: a projected deficit is not the same as a real deficit. Right now, the state doesn't have a deficit--there's a projected $2.6 billion dollar hole, which is the big kerfuffle of the season, but not an actual hole (see: California) yet.

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