RI expects nearly $200M deficit as economy dives
NBC 10
Budget officials for the govenor predicted Tuesday that the state’s income will drop about $130 million during the fiscal year ending in June.
Published: November 10, 2009
Updated: November 10, 2009
PROVIDENCE—Economic woes in Rhode Island could drive the state’s budget deficit to nearly $200 million.
Budget officials for Gov. Don Carcieri and lawmakers predicted Tuesday that the state’s income will drop about $130 million during the fiscal year ending in June.
Among the biggest drops are an 8 percent decline in the sales tax and a 5 percent drop in the personal income tax.
Besides dealing with falling income, the state began the year with a $62 million deficit from the previous year, further aggravating the current budget gap.
Carcieri, a Republican, said in a written statement that state leaders must avoid raising taxes to fix the shortfalls.
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Smitty FYI: Could be just an oversight on your part, but RI’s governor is in his 2nd term. There is a term limit for RI governors. That limit is two. He will not be up for re-election.
I’m not going to say the the governor is always right. He is just as corrupt as the congresscritters that override his vetoes to give their constituents what they want. BUT the governor is TRYING to stem the money flood out of the state coffers.
I wish all you people that are calling for him to get beaten in the election would remember that.
Rhode Island has been in a “free fall” for years, just one of the reasons we moved out a year ago. Should have done it much sooner, but we got a good deal on selling our house in Narragansett. Most of you people will be stuck in RI. There is nothing there but greedy politicians and unions sucking you dry. We still have family there who are also “stuck”.
Hey, Anybody can walk into this state and get all the welfare they want. People are coming from all over. We just hand it out like there is a money tree. 45% of our state budget is social services. Check out some of the other states. The deal is much better here. Welcome All.
Just a friendly reminder…HA..like we won’t have others! Register to vote.
General ASSembly: OPERATION CLEAN SWEEP!
Hello RI Taxpayers….Better stock up on your Anal Lube With these idiots running the State and the deficit you know whats coming!!!
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