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.
As Milton Friedman often remarked, the bill always comes due. Today’s spending must be paid by taxes, regardless whether those taxes were collected in the past, are collected this year, or will be collected in the future.
Repealing the state's law against collective bargaining for public-sector employees would increase state government spending by between $889 million and $1.32 billion — a cost of $84.75 to $126.03 for each North Carolinian and a decrease in state gross domestic product.
Jen Mangrum made it clear that doing "what's best for all our kids" includes slashing the number of charter schools. During the forum, Mangrum reiterated her longstanding belief that charter schools are taking funds from traditional public schools. Her preferred remedy is reinstating a cap on the number of charters.
Could Cooper callously continue to play favorites with individual corporations at the exact same time he was putting hundreds upon hundreds of small businesses at risk of closings, bankruptcies, and ruin? Yes. Of course. At several levels worse than last year, even.
Medicaid enrollment is up across the country, including North Carolina, which means costs are up, too. States don't have the flexibility to borrow and print money as the federal government does, so planning for the future is especially important when facing economic uncertainty.
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