Governors promise cuts, will Washington follow suit?
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While Washington power players and pundits have been busy discussing what the election “means” for federal economic and fiscal policy, it looks like governors-elect have already begun getting down to business.
According to Bloomberg, California Gov.-Elect Jerry Brown (D) yesterday promised to cut spending to deal with the state’s $19 billion budget deficit. Brown said Californians are in “no mood” for tax or fee increases, having just voted down an $18 increase to the cost of vehicle registration to fund state parks.
Pennsylvania Gov.-Elect Tom Corbett (R), in an interview yesterday with the Pittsburgh Post-Gazette, said, simply, “We’re going to cut the spending because we don’t have the money.” Corbett’s former challenger, current Gov. Ed Rendell (D) said he thought Corbett could find at least $3 billion in spending cuts.
And in Ohio, where the state government faces a deficit that could be as much as $8 billion this year, Gov.-Elect John Kasich (R) told the Cleveland Plain-Dealer his number one priority is turning a balanced budget in on time.
Here’s hoping Washington will follow suit and get serious about reducing spending.