$300 million now a Billion by July ‘09????

Posted on April 16, 2008

From the NH Advantage coalition:

How bad will it get?

New Department Head Revenue Projections Show NH Deficit is closing in on $300 Million

Manchester NH- Despite raking in revenues at a higher pace than last year, testimony by department heads before the House Ways and Means Committee on April 9, 2008, painted a very bleak picture of the state of our state. This new revenue outlook, showing shortfall closing in on $300 Million dollars, has many state officials asking: just how bad will it get?

Despite repeated warnings that last year’s inflated revenue projections would lead New Hampshire exactly to the place we are today. Governor John Lynch, Democrat leaders in both the house and senate, knowingly passed an unbalanced budget to fuel their insatiable need to spend. That astronomical jump in spending according to the National Governors Association and the National Association of State Budget Officers December 2007 survey, puts New Hampshire squarely in the top ten of overspending offenders nationwide.

“Only seven states experienced a higher percentage growth in state spending in FY08. New Hampshire taxpayers are increasingly frustrated by the overspending, posturing, and false rhetoric of our current state leadership. It has become trendy to say you’re for low taxes, even against a sales or income tax. The problem is, once elected, too many officials act like a teenager with a fist full of credit cards,” said Mike Biundo, NHAC Chairman.

“New Hampshire’s leaders need to start managing our tax dollars like they do their own households. When the cost of gas and milk go up, most taxpayers look for ways to cut spending. Perhaps they don’t eat out, or stop going to movies, but they definitely look for ways to cut out the discretionary spending, and that is something this legislature and our governor need to quickly learn how to do,”

For more information please contact: Roger Wilkins, the New Hampshire Advantage Coalition

» Filed Under NH Income Tax, economic recession, Taxpayer Pledge, Republicans, tax pledge, New Hampshire, Legislators, Taxes, NH Politics