• John Locke Update

    Now is not the time for new programs or debt

    posted January 27, 2021 by Joseph Coletti
    An uncertain economic time is not good for borrowing. If the state takes out debt and the post-COVID economy turns out to be smaller, then debt capacity will shrink and the debt will end up taking more from other priorities. If the economy recovers quickly, then the state would have more money available for capital anyway.
  • John Locke Update

    State revenue picture continues to improve

    posted November 23, 2020 by Joseph Coletti
    North Carolina state government continued to have strong finances seven months after the economy first began to slow in March. Budget writers should nevertheless be cautious about adding spending commitments, however.
  • John Locke Update

    Cautiously Optimistic FY 2021 Budget Update

    posted September 17, 2020 by Joseph Coletti
    Just before Labor Day, Gov. Roy Cooper signed the final bill appropriating money from North Carolina’s $3.6 billion share of the Coronavirus Trust Fund. He was clearly under duress. A veto of the bill that passed with large bipartisan majorities would surely have been overridden.
  • John Locke Update

    Not-quite-the-budget session begins today

    posted September 2, 2020 by Joseph Coletti
    Yesterday, NC legislators described their plan to use more than $1 billion from the Coronavirus Relief Fund. Today, they will provide legislation and vote on it. But some differences between the governor's plan and the legislature's plan are already apparent.
  • John Locke Update

    Despite Surplus, Spending Restraint is Still Required

    posted May 10, 2018 by Joseph Coletti
    On most days and most roads, most drivers treat posted speed limits as the recommended speed. A person driving at the speed limit can be the slowest vehicle moving on…

state revenue by Author