Governors promise cuts, will Washington follow suit?
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.