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Tighter times ahead

They are lined up around the block from the Capitol’s nice shinny doors waiting for the January session to open with their mouths open like birds for a feeding…wanting their share of the “surplus”. Inside the Capitol, the Brotherhood is huddled together rubbing their hands together plotting how much they can put into parking lots and street lights in their little corners of the state, good for re-election after all. But wait a minute; the economic future of our state might be in for a bumpy ride the next few years. You think the Legislature might take into account the facts and put some scratch in a rainy day fund? I am not betting on it.

States cut taxes and shored up savings accounts in 2006, ahead of a predicted economic downturn that could slow broad economic growth, according to an analysis released Wednesday.

National Governors Association director Raymond Scheppach said a three-year period of economic prosperity may be ending, and he cautioned states to consider the long-term implications of budget surplus spending.

Like other states, Arkansas’ fiscal condition was strong. The state’s projected surplus is $843 million.

And like other states, that condition may be deteriorating, experts said.

Comments

Comment from KOinNWA
Time: December 14, 2006, 4:03 am

I think this country is headed for some dark times - and I hope the Legislature can control the foaming at the mouth with all those swirling dollars floating around in there heads and make sure we have enough money set aside in case the bottom fall out, and we won’t have the money to help keep oxygen at the beside of a sick 3 year-old or 86 year-old grandma. Could happen without some level headed thinking.

Man…what am I thinking? Ain’t gonna happen, Arkansas is not 48 or 9th in just about everything because we send strong, intellegent and foward thinking Legislators. Sieze the day seems to be our moto.

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