First, economic impact and fiscal impact are two very different things. That said, state government operates based on revenues generated by taxes and fees. When there is a change in revenue, obviously there has to be a change in budgets. Normally, we could get by with an approximate figure and rely on the Rainy Day Fund as a cushion. However, the GOP chose to pillage that savings account to create this year's budget rather than making responsible 20% cuts across the board. Because they also squandered what was still left in there because certain funding sources in the budget never even began to materialize, we don't have that cushion and must now rely on accurate figures.
In a perfect world I'd say "to hell with it, we can't pay you, you, and you starting this week so bye-bye". However, this is the real world. I need real numbers to back up how much I can shrink government.
I wonder how this state and the OSBI survived fiscally or economically before we had a concealed carry law?
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