Kasich: more cuts could be coming


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Speaking with reporters today, the Governor indicated he’s watching state revenue very closely and has instructed his budget director to sound the alarm if collections begin to wane. When asked what options may be in the mix to deal with sagging revenue collection, Kasich was quick to rule out any new revenue in that scenario, instead promising: “Well, we’d just have to cut spending. Period.”

While he’s certainly consistent, if there is a revenue problem, he should really consider a revenue solution. The economy is slowing because consumer demand is down as wages decline and unemployment rises (In June, Ohio saw its first increase in the unemployment rate in 23 months). Cutting programs that keep people employed or put money into the community will only exacerbate the lack of demand. Postponing the estate tax cut, on the other hand, isn’t going to change anyone’s spending habits.

But I’m not the Governor, so I expect to see more painful cuts, or perhaps more functions of state government sold off to the private sector. Hey, someone’s got to get rich in this economy.

Related stories:

Columbus Dispatch: Kasich worried about state revenues

Bloomberg News: Ohio’s Kasich Prepares for Cuts if Balky Economy Pinches Revenue

 

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4 Comments

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