As N.C. lawmakers reviewed the “budget availability” (the spending limit) this morning, Rep. Pryor Gibson, D-Montgomery, asked legislative staffer Barry Boardman to offer an explanation:
Tell us why North Carolina ? with South Carolina cutting their budget 3 percent, Tennessee laying off thousands of people, Virginia in trouble ? remind us again what we did or what we should continue to do as it relates to keeping us in what appears to be [a] relatively sound fiscal footing.
Boardman cited two factors. First, North Carolina’s economy has continued to fare well. Second, conservative revenue estimates helped the General Assembly avoid making budget promises it couldn’t keep.
Joe Coletti agreed with Boardman’s assessment. In an upcoming Carolina Journal Radio segment, you’ll hear Joe’s ideas for making even more improvements to the budget process (especially the idea of putting a tighter lid on spending growth).
