Remember when Republican Control Crashed the Global Economy? We put them in charge again, and guess what? Deeper Fiscal Woes!!!

Voters without a doubt have short memories, and certainly no patience, that’s why they voted in an overwhelmingly Republican majority in our state legislature. No checks and balances talk here. No bashing one party rule like before. Total authoritarian control…and debt…again:

Post Crescent: Republican Gov. Scott Walker ran on the promise of balancing the state's $3 billion budget shortfall and putting people back to work, but his first proposals will only deepen the state's fiscal woes.

In his first week in office Walker released eight bills he wants the Legislature to pass by March … Instead of chipping away at the two-year budget problem, they include tax cuts that would increase the deficit by at least $80 million a year, based on figures released to The Associated Press by Walker's office.

And, based on the just released numbers:

Historical trends suggests the additional $25 million the guv wants in economic development tax credits would not be claimed over the next three years, according to an analysis from the Legislative Fiscal Bureau. Of the existing economic tax credits allocated, $73.1 million had not been allocated to eligible projects as of this month, according to the analysis.

The LFB memo on giving companies that relocate to Wisconsin a break on their corporate taxes notes the Department of Revenue estimates it would cut state revenue by $280,000 annually starting in 2011-12.

Voters are expected to wait…and wait…and wait for the “future” results, our Republican economic crashers are saying will come, someday.

Wispolitics: Walker and Republicans argue that he is setting the stage for greater growth later by making Wisconsin a more attractive place for businesses to locate and grow.

The simple question Republicans asked Democrats right out of the gate; Where are the jobs?


UPDATE: Walker continues to grow the looming state deficit, with more tax cuts:

Legislation Gov. Scott Walker has proposed allowing a tax deduction for health savings accounts would reduce state revenues by $48 million in the 2011-13 biennium, according to an analysis by the non-partisan Legislative Fiscal Bureau. 

Walker's office has previously estimated the small business tax credit he has proposed would save taxpayers an estimated $40 million year. Combined with the HSA deduction and the credit for those companies that relocate to Wisconsin, the price tag for Walker's special session bills is at least $128.5 million over the biennium. 

Walker contends that tax revenues will later grow because the tax breaks will spur business activity.