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Monday, April 11, 2016

How grownups deal with a tax revenue decline

The first Republican Legislature in 82 years in West Virginia must deal with a large hole in the budget. The collapse of the coal, oil and natural gas markets have collapsed the tax revenues that rely on them, as well as the decline in the casino industry. Other states also have these problems thanks to Obamanomics.

In fact, Connecticut is about to do something never tried in West Virginia.

Connecticut is laying off state employees.

From the Hartford Courant:
A portion of the workers slated to lose their jobs -- officials could not say how many -- received notice on Monday. Gov. Dannel P. Malloy said as many as 2,000 state workers could be laid off due to the state's budget crisis.
Malloy said he expects to release his revised budget on Tuesday.
"Wer'e going to have a new budget for you tomorrow afternoon,'' Malloy said Monday, following a brief meeting with legislative leaders at the state Capitol. "That's being worked on. It's the fastest turnaround on a budget that Connecticut ever seen before.''
The Democratic will be releasing a revised budget next week to fill the final $360 million of a projected $933 million budget gap in the next fiscal year, which starts July 1. There will be no tax increases in the revised document.
Regarding layoffs, Malloy said: "things are progressing on a department-by-department basis."
"The process has been underway for a long time and as plans are approved by department, they are progressing,'' he said. 
Malloy said he understands that state employees are "on pins and needles" and he reiterated that the layoffs are not their fault.
"We have to realign our expenditures with our numbers,'' Malloy said. 
No one likes to see this happen, but if the taxpaying companies have to layoff, so should the tax receiving government.

Oh and when the Gazette bitches, ask Betty Chilton how many employees Charleston Newspapers had when she bought it 12 years ago and how many it has today.

An I applaud her for doing so. Nothing personal, just business.


  1. I read the article and comments. Looks like it will be newer hires that will get the boot. The pensions of the ones that remain will probably make up for any savings as they retire as there has been no systemic reform. This is only the beginning.

  2. For sure. Wrote about this often in my newspaper days.

  3. Suggestion: article on hostile takeover of Eagle Forum. Keep in mind what I said about Goldberg being more of a fascist than the average Trump supporter. I can't even imagine something like this being done to Schlafly for supporting Goldwater in 1964. These people are much worse than the Rockefeller wing.

  4. Budget-cutting suggestion: Stop paying people to NOT work. - Elric