What's the bottom line? This budget spends $3.63 billion more than the last budget. This budget takes from Wisconsinites $2.05 billion more in taxes and fees than the last. This budget puts $3.58 billion of spending on the state's credit card. This budget lets local governments raise property taxes by $1.5 billion. And this budget burdens the next budget with future spending promises (a structural deficit) to the tune of $2.05 billion. 2011 isn't even here yet, and we already have spent $2 billion.
Monday, August 10, 2009
A lesson in how not to budget
Here's a great article on the budget process written by Brett Healy of the MacIver Institute.