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Monday, February 09, 2009

Hawkeye Review: Start your watches, let the budget countdown begin

Excerpted from this post at Hawkeye Review

... I see dark storm clouds on the budget horizon. The national bureau for common sense in government has issued a "budget watch" for the entire state of Iowa, effective immediately, with no expiration! The Iowa Department of Management -- which includes the Revenue Estimating Conference, issued a summary report from the December 12th quarterly meeting. If you'd like your intelligence insulted, open the link and take a peek at the most recent revenue estimate. Let's go straight to the bottom line here: The REC estimate from December is off, way off! Not even in the ballpark-off! If this critical state function was a guessing contest on the "Price is Right," host Drew Carey would be on the floor laughing, it's so far off. Of greater concern to me is the inaction by Legislative leaders to address the impending real declines in tax revenues that we all know will occur.


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Mike Schramm
Andy Szal

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