The state of North Carolina is behind on issuing income tax refunds. It’s easy to presume the lag is due to the poor economy. But what role have state legislators and the governor played in the delay? (emphasis is mine)
Joe Coletti – director of fiscal policy studies for the John Locke Foundation, a conservative think tank – said the Democratic-controlled state legislature can’t blame the delay only on the economy because that legislature increased the budget this year despite falling revenues.
“It’s something the legislature should have planned for,” he said.
But Coletti said he doubted there is much political hay to be made of the delay.
“By November I think it’ll be forgotten,” he said.
In other words, when you continue to spend, spend, spend when you know the economy is struggling and revenues will be sluggish, this is what you get.
