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PROVIDENCE -- Rhode Island is staring down a projected current-year deficit of more than $300 million, according to House Fiscal Office figures. Those figures were calculated on the last day of the semiannual Revenue & Caseload Estimating Conference, which ended about 5 p.m. The fiscal year began July 1 and ends June 30. The budget deficit includes a shortfall of about $233 million in anticipated revenues, according to calculations that increased as the day went on. It also reflects a $37 million deficit from the previous fiscal year. And for the coming budget year, which beings July 1, 2009, the state faces a projected deficit of about $450 million. It is important to note that both could be conservative estimates at this point -- a clearer picture will emerge later this week or early next week. The current-year deficit is twice the size of last fiscal year's mid-year deficit. Representatives from the governor's budget office, the House and Senate fiscal offices participated in the revenue-estimating conference. This evening, Carcieri issued a statement on the estimate, saying: "We expected revenues to be down due to the current economic climate, but we did not anticipate the shortfall would be this great. The gravity of the situation is going to require more dramatic steps." He said his staff, anticipating a revenue drop, has been meeting for several weeks to develop plans for closing the budget gap. Next week, the Republican governor said, he'll look to meet with leaders of Democratic-majority Assembly to review proposals and develop plans to address "our current fiscal crisis." " We simply cannot afford to wait to address our economic situation," Carcieri said. "Now is the time for everyone to work together, and may require the General Assembly to take immediate action." -- With reports from Steve Peoples of the Journal State House Bureau CommentsLeave a commentPlease be civil. Vicious comments, personal attacks and profanity won't be published. Name and email are required; email address will not publish. |
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Last night, it was a $200 million deficit. Now it's $300 million. Either it was a typo, or we're in even bigger trouble than we though! But it's no surprise, a Republican president bankrupted the nation and our Republican governor bankrupted the state. When will people learn: Republicans cannot govern!
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Cutting taxes for the rich seems like a great freaking idea now, doesn't it? As Joe Biden says, for those of us who can afford it, paying more taxes in a time of crisis is patriotic. It is how we help our fellow Rhode Islanders get health care, eduction, roads and child care. Let's pony up.
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Alert to the Governor: You need to focus on long term solutions instead of another like last year's fiasco! Last year's short-sighted budget cuts are what put us here. Gee let's take millions from the state housing agency at a time when we need more housing help than ever. So now, less people are being helped, more foreclosures, neighborhoods dying...and all the agencies R I Housing helped are suffering too because they are not getting as much money to help people. When a governor only focuses on how to save the top 10% of the people in the state, it will eventually crumble. Take money from all the non profits so now we can't help kids get educated so they can get better jobs and live better lives. al;l of these policies left behind "the other people" the ones who are not big-business owners and politicians. I hate to tell you but the state needs the other 90% to flourish or there is no state. that is what we are seeing. when we elected you, we saw you as a governor who would understand complicated budgets and make for long term solutions. Let's see you do it this time.
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Massachusetts or Connecticut looking for a merger?
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Don Carcieri has done his best to bring RI forward and improve the State of RI.
One of the major obstacles has and still is RI multi generational Pseudo socialist (client provider) Liberal Largeness left entitlement mindset and companion Union Utopia. This has greatly restricted options. Why, the RI general assembly is still today accountable to the unions and lobbyists rather than the citizens. The record of crime and corruption is clear and reported often in PROJO. IN RI most have either a relative or neighbor looting the state in some way. In RI we have way to many people working for local and state government as compared to total working population. In RI we still pay much more for employees and services as compared to regional and national averages. Today we require a drastic solution of conversion to a city state central government. We require economy of scale which will lower cost and improve both quantity and quality of services. For example - Elimination of the present overlapping government structure at both the local (town / city) and state level. We must centralize the fundamental and necessary services. example DPW, Police, Fire, Schools / teachers, other fundamental services (in RI we pay much more than national average for these services and they over lap). We must restructure the reaming and much reduced government work force size at all levels integrating into a new city state civil service. ALL existing Union Contracts and pensions halted going forward. To enable such a drastic change the state should seriously consider entering bankruptcy nullifying any and all labor contracts and pension benefits especially the (by private commercial standards actuarial determined unworkable pension system. You now live in the Banana Republic of RI brought to you by the RI general Assembly and its Labor Unions. Most wealth (investment captial and knowledgeable skilled people that can create wealth and add value have already departed as undue wealth has been seized through a tax system that feeds the unworkable and unaffordable local and state government structure. This melt down had been predicted almost 40 years ago, based on events of almost 70 years ago. . So blame who you wish you cannot change the end product of an unworkable and failed corrupt system of government. The party is almost over!
Again we acknowledge and thank Governor Don Carcieri for his Noble attempt to correct this situation and his honest and straight talk.
Unfortunately the people have chosen to elect a pied piper at the federal level and very high expectations have been generated as to somehow at the Federal Level an export of the failed RI Brand of Government to Washington DC will some how save the country from hard work and difficult choices! Our federal finical melt down was a similar grand experiment of providing loans to those that did not have the ability to pay in good times never mind bad times. So RI you can get engaged and help fix this mess or wait by your mail box for our expectation of checks from Washington. Your choice. Oh, my bet is no check will be coming very soon.
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Again, a fish rots from the head down. Please "Don" resign and take all your loosers that you have brought in with you. I hope you did not take a raise "Don". Remember, you will go down as Rhode Island's most ineffectual governor of all time. Again, I really do hope that you had lots of personnel monies in the stock mess created by your merry band of Republicans. Way to go "Don".
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whats left to be cut from the poor do you want us living in the streets.does the middle class have to pay more in taxes to bail your ineffective democratic leadership out yet again.many state workers were allowed to retire.its time to layoff just as many.my dealings with state workers at the garrahy courthouse-secretary of states office and capitol hill i have found them rude and lazy.its time for the democrats to show some courage and do the right thing.
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ILLEGALS. ACLU GOING TO COURT RULING GOVERNORS ORDER ON ILLEGALS. PIAVA-WEED STOPS E-VERIFY TWO YEARS IN A ROW. WHAT YOU DON'T KNOW ILLEGALS ARE BEING ARRESTED EVERY DAY IN RI. THE $400 MILLION DEFICIT IS TO SUPPORT ILLEGALS. I.E. HEALTH CARE, WELFARE, EDUCATION AND IMPRISONED.
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Craig - Maybe you think it is "patriotic" to give more money to the crooks on Smith Hill to line their pockets with, but I don't. The answer to this problem is not to rais capital intakes, it is to cut spending. Something this gropup of bufoons wouldn't know how to do unless the Governor spelled it out for them. I for one don't think they should raise taxes on nickle until they agree to eliminate thier own healthcare coverage or at least pay a sizable portion of the costs. There is no reason a part time employee should get full benefits at no cost to them. Of course Paiva-Weed thinks it show more leadership for the member's to chip in on a voluntary baisis. Judging by the number that do, there is no leadership up there.
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Arino,
Can you send me some of that stuff you're smoking? "Republicans can't govern?" In case you just dropped in from Mars, or you're just a moron,or both, the State Legislature and Congress are both tilted heavily Democratic. How's this one? "Liberals can't think, or admit the facts." Get a clue, you imbecile.
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