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Oldtimer explain this PLEASE

Tam

Well-known member
Montana budget faces mid-2011 deficit, forecaster says

By CHARLES S. JOHNSON Missoulian State Bureau missoulian.com | Posted: Monday, February 8, 2010 10:30 pm

HELENA - The state's general fund budget will be in the red by mid-2011, a new revenue forecast predicted Monday.

The Montana Legislature's chief revenue forecaster, Terry Johnson, estimated the state would face a $62.5 million general fund budget deficit by June 30, 2011, as tax collections continue to fall.

It marks the first time that a forecast from either the legislative or executive branches has predicted that the state would face a budget deficit by the end of this two-year budget period.

Johnson's latest monthly forecast traced the continuing deterioration in the state's actual and projected tax collections and how the expected general fund surplus will melt away by June 30, 2011.

When legislators adjourned in April 2009, they estimated the state would have a healthy $282.4 million ending-fund balance, or surplus.

But that number has steadily shrunk as actual and projected tax collections have declined in recent months. Johnson's forecast in early December showed a $44.4 million surplus, but in early January he had lowered it to $16.9 million and now to a negative $62.5 million.

On Jan. 29, Gov. Brian Schweitzer's budget director, David Ewer, forecast a $5.6 million general fund budget balance as of mid-2011.

Why was Schweitzer just on FOX telling Cavuto that Montana has MONEY IN THE BANK, when the conversation was about the deficits other states are facing? Especially when the latest forecast in Montana is a $62.5 million DEFICIT? :? Could it be he doesn't know or doesn't think anyone watching will know he went from a $44.4 million surplus in Dec to a $62.5 Million projected DEFICIT in 6 months? :?
 

Lonecowboy

Well-known member
Tam, when you add in the unfunded liabilities under BS's budget the figure comes out closer to 1 Billion with a BBBBBBBBBBB!

yes Mt has money in the bank- around $300 million
yes MT has bills in the future--- around 1 billion

net operating loss under BS's budget-- $700 million

if he can just kick this can down the road one more time??????

will the current legislature let him get away with it again??????

this is the first time he has not had a democrat majority in at least 1 house- will they finally hold him accountable?????

Who knows, there are an awful lots of liberals in the republican party up there but the TEA partty true conservative republicans have picked up dramatically in number this year.

Exciting times in old MT.

ps. I know you asked OT- but this is the only honest answer you were going to get!!
 
A

Anonymous

Guest
And 5 months ago before the partisan bickering of the Legislative session took hold he said just the opposite-- that everything was hunky dory....

September 15, 2010 8:43 pm | (0) Comments

Font Size:Default font sizeLarger font size.HELENA - Montana legislators received both good news and bad news Wednesday about the state's future general fund revenue picture.

The good news is that the projected general fund budget balance for the two-year budget period ending in mid-2011 may be as high as $235.6 million, depending on several future actions, said Terry Johnson, the Legislature's chief revenue forecaster.

"That's considerably better than it was back in January," Johnson told the Revenue and Transportation Interim Committee.


That isn't too far below the original $282.4 million ending fund balance set by the 2009 Legislature, although state tax collections are expected to fall by $309 million over the two years.

A number of one-time-only budget and revenue occurrences, led by the $81.4 million in bonus bid payments by Arch Coal to mine the state-owned coal at Otter Creek, served to fatten the projected balance.

As a result, Johnson said the state apparently will not have to replenish its general fund ending fund balance as it appeared in March would be necessary.

"We will end the year with a pretty good balance (in 2011), but it really doesn't help us for the next two-year budget cycle," he said.

Schweitzer’s budget director, David Ewer, was asked later to respond to Johnson’s answer to Peterson.

“Montana’s economy is improving,” he told Lee Newspapers State Bureau. “The revenue estimate that matters is the one we do in November, and it will most likely be higher than anyone’s assessment today.”

And the truth probably lies somewhere in the middle...Its only been a couple of years since they were saying the same thing- but in truth greatly underestimated income by $Millions- and had to give back tax refunds....
 

Tam

Well-known member
Thank you Lonecowboy I asked to see how Oldtimer was going to deflect the question and seems he didn't disappoint. :wink:

Sorry Oldtimer I'm not talking about what was being said 5 months ago. I'm asking why in light of the revised Montana forecasted DEFICIT projection was BS on TV TODAY making it sound as if Montana was one of few states to be in the BLACK because of the cuts HE MADE?
 

Faster horses

Well-known member
Fox News showed a U.S. map yesterday are only 4 states that
don't have a budget shortfall. Wyoming, North Dakota, Arkansas
and I'm not sure of the other one. (Need to brush up on my
geography--it was in the south by Arkansas) so Fox must know that Montana isn't in the great shape ole' BS tried to say it was.

Give 'em enough rope and they'll hang themselves.
 

Lonecowboy

Well-known member
this is pretty current 2-22-11:


Average compensation including benefits for a state employee is about $62,000, while the average Montanan only brings in about $34,000 per year with no guaranteed health or retirement benefits.

Republicans argue that the pension guarantees afforded to state employees are creating an entitlement class that we can no longer afford. The fiscal note on Senator Dave Lewis’s SB 328 shows the present value of the unfunded liability of continuing this broken plan amounts to $1.35 billion which currently is borne only by the taxpayers.

MT has a balanced budget clause in it's constitution, so now we need to cut $1+BBBBBBBBBIllion!

teachers, fire fighters and state employees rallied on the front steps of the Capitol, calling upon the Legislature to reverse the cuts they say total more than $1 billion dollars from the Governor's budget. The event was co-organized by MEA-MFT and the Montana Organizing Project.

which garnered this response:

Senate Republicans issued the following statement in response to the rallies:

State employees get the gold, while state taxpayers get the tab. While most of Montana’s farmers, ranchers, and private sector employees were at work on Monday, public sector employees under the banner of the Montana Organizing Project funded by the likes of George Soros and SEIU took their paid day off to protest fiscally responsible policies at the Montana Legislature.
:clap: :clap: :clap:

Senator Essmann closed by saying, “Montana Republicans want to be fair with state employees, but they need to recognize that they need to be fair with state taxpayers. The longer we wait to fix this problem the worse it is going to get.”

http://www.kulr8.com/news/local/Hundreds-Rally-at-the-Capitol-116635323.html

gosh imagine that, legislators upholding their oath of office and supporting, protecting and defending at least part of the Montana Constitution and going for a balanced budget. Gov. BS doesn't care if he aims high and misses, he is termed out. this is his last dance!

BBBBBBBBut, he has his eyes set on something else if we aren't careful, Max is getting old.
 
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