Actually the proposed budget is not a solution at all. How does one call it a solution at all with an 11B shortfall that needs to be financed? What happens next year? Another 11B loan? Do we get a loan every single year?
Unfortunately like our local government then state is insolvent. As painful as it would be, yes the state does need to declare bankruptcy.
Of course we will not do that, and if we did do that, no the current residents of our penitentaries would not be left free in the streets. What would happen? I have no clue because it would be uncharted waters.
What we all realize but nobody wants to post is that it is not a sustainable situation. Talk about simple math… The only way to even get close to sustainability will be taxes in form and function like New York, more likely even higher. The state is growing in overall population but it is losing quality wage earners and businesses. This is a simple fact not speculation.
