Showing posts with label Scott Walker Debt. Show all posts
Showing posts with label Scott Walker Debt. Show all posts

Saturday, February 14, 2015

Walker still using GOP Great Recession to bash Democrats and push his failing agenda!

This is getting pathetic, no really, it is.

The "Blame Bush" Hypocrites: For years Republicans have been rolling their eyes when Democrats criticize the Bush and GOP policies, ending in the "free market" deregulation catastrophe; the Great Recession. But when it comes to erroneously blaming Democrats, like former governor Jim Doyle, well, they just can't stop themselves.

The most egregious offender, Scott Walker. Walker won all three elections blaming Jim Doyle for actually causing the Great recession, and in turn, the job and business losses. He's still at it.

Here's the latest con; Doyle and the Democratic legislature had to borrow heavily at the peak of the Great Recession to stimulate job growth and development.

Yet during these times of national growth, and because Walker will never raise taxes, he's decided to "spend & borrow," and minimize the debt by comparing it to Doyle. As PolitiFact points out:
Consider that in 2009, Doyle stood where Walker stood and unveiled a two-year budget with a proposed $1.5 billion in borrowing. That’s actually a bit less than what Walker wants ($1.6 billion).

As is typical later in the budget process, the State Building Commission brought forth a capital budget to borrow for building construction on the University of Wisconsin campuses and elsewhere. It sought another $1.2 billion in new bonding above Doyle’s original proposal. Then the Legislature added in another $900 million and -- in the end -- Doyle signed off.

Walker’s comparing his early-stage proposal to a 2009 final enacted budget after lawmakers and Doyle pumped it up. 

Friday, January 23, 2015

Walker Plunges state into Deeper Hole, supporters love it, want Walker to run for president? Strange but true.

The real numbers are in, and our whiny Republican majority can't blame former Gov. Jim Doyle for the massive budget shortfalls they now have sitting in their laps. In fact, their own mishandling of the budget has created an almost similar deficit number. "Stand with Walker" Borgites won't notice or care, after all, they're in power now, so what. But some Republicans have already told us deficits are good...when it happens under their watch of course. jsonline-Jason Stein: 
"Come on down..." says Walker.
To keep the state doing what it does now through mid-2017, Gov. Scott Walker and lawmakers have to come up with $928 million in spending cuts or tax increases, according to estimates released Friday by the Legislature's budget office. The nonpartisan Legislative Fiscal Bureau found that to continue current operations ... state officials have to find $283 million this year plus another $648 million over the following two-year budget beginning July 1. The shortfall in the state's main account becomes even larger — more than $2 billion — in the unlikely event elected officials seek to provide all of the added spending requested by agencies through June 2017 and the additional tax cuts promised by Walker in his successful re-election campaign last year.
Rewarded for withholding their payment to the state, the Potawatomi tribe’s threat helped force Scott Walker to deny the Kenosha casino, killing thousands of jobs and potential state revenues. Hey, that’s just business folks, like high speed rail and solar power. But mining ore that's no longer in demand...?
The fiscal bureau's numbers don't include a roughly $25 million gambling payment that the Potawatomi tribe owes the state from last year and committed to paying Friday, or an additional $25 million that can now be expected from the tribe this summer.
Keep in mind, the transportation fund used lots of general revenue dollars last time. With the shortfall…well, this will be fun to watch:
The estimated shortfalls don't reflect the added financial pressures in the state's separate transportation account nor does the report include any tax cuts that Walker may include in the 2015-'17 budget bill that he'll deliver on Feb. 3. 
And yet, former secretary of state candidate and Republican Party operative Julian Bradley thinks Walker's record is enough to catapult Walker into the White House. Try not to laugh:
Bradley: "The reason people are talking about Gov. Walker for president is because how well he's governed our state. That's can't be denied. You just can't manufacture a candidate with broad national appeal. The governor has earned the right to be in this conversation...he survived a recall...the caller was asking about Act 10, and how nobody liked it and this was all part of plan to try and run for president but really it was part of a plan to bring our state political, or rather financial system back in order." 
Yea, this is what our "system back in order" looks like. What is about GOP candidates running on really bad jobs and economic records? This is almost surreal. Audio from WPR:


Wednesday, December 24, 2014

Walker projected deficits getting more national criticism than from his base of supposed "fiscal conservatives" in Wisconsin.

Because the holidays have been a bit on the frantic side, I will news dump this Bloomberg story about Scott Walker's inability to manage state revenues. The criticism is self contained, so add this to the list of negative national coverage Walker has managed to accumulate over the past few months. The only ones not yet taking notice...Republican constituents, who are giving new meaning to the term "low information voter:"
Wisconsin Governor Scott Walker has his eye on the Republican presidential nomination in 2016, and as he tries to boost his national poll numbers, there are numbers at home that also bear watching -- his state’s finances.

Tax cuts and Medicaid spending are contributing to a projected budget deficit that may reach $2.2 billion in the two-year period starting in July 2015, according to his administration’s analysts …  Walker aides call the projections premature … Last week, he called for more property-tax cuts.

Tax collections for this fiscal year through November were 2.1 percent below the same period last year, according to state figures. The Department of Administration had forecast that collections for the year through June 2015 would be up 5 percent. Investors in the $3.6 trillion municipal-bond market have yet to penalize the state.

One of Walker’s primary campaign themes, that he eliminated a $3.6 billion deficit inherited in 2011 from his predecessor, Democratic Governor Jim Doyle, now has the potential to work against him. Estimates of the next budget shortfall range from about $800 million from the nonpartisan Legislative Fiscal Bureau, to the $2.2 billion forecast from Walker’s own analysts.

“We’re in a big pickle right now,” said Democratic state Representative Peter Barca … “at a time of relative prosperity.”

The fiscal volatility is familiar to Todd Berry, president of the Wisconsin Taxpayers Alliance, “Wisconsin is politically incapable, with a fulltime, professional and highly partisan legislature, to do anything that looks at finances over the long-term,” Berry said. Medicaid spending is adding to budget pressures. The health-care program for the poor, covering about one in five Wisconsin residents, represents about $760 million in proposed new spending in the 2016-2017 spending plan, Berry said.

Total expenditures this fiscal year are expected to exceed revenue by about $650 million, according to Walker’s budget analysts. “The problem is they’ve cut revenue permanently, with tax cuts, but not cut spending permanently,” Berry said. 

Wednesday, November 26, 2014

The Real Walker Deficit? A possible $4 billion Hole!!!

Do we have a $2.2 billion projected budget deficit or don’t we? Let’s cut the crap here. It could very realistically be more.

The most amazing mind to chime in on the issue is Winnebago County Executive and former Democratic candidate for the 6th Congressional District Mark Harris. Cap Times:
When Walker took office that year, the state faced a $2.5 billion shortfall. After about $1.1 billion of state agency funding requests were added in, that projected deficit amounted to $3.6 billion.

(Harris) voiced concerns that people might compare it with the $2.2 billion estimate from the DOA memo … pointed out a difference in the way the two figures were calculated.
Harris is pointing out how the new Walker estimates include “projected” new revenue, where under Doyle’s shortfall, no revenues were figured in. Big difference:
Think what I can do to the country!
The (Doyle) $3.6 billion number was based on the baseline biennial budget number — including neither increases in revenue nor increases in expenses — combined with agency budget requests, Harris said.

But the current DOA estimate includes $1.4 billion in new revenue. "If you back these revenue increases out of the $2.2 billion figure you will get $3.6 billion," Harris said in an email.

Harris also said "Revenues for the last eight months of this fiscal year would have to run more than 8 percent ahead of the same months of the prior fiscal year in order to reach the DOA projection," Harris said. "I believe that the shortfall measured on a similar basis with four years ago would be close to $4 billion."
If that weren't bad enough, Walker's recently proposed tax cuts will only make things worse:
The state expects revenues to fall $2.2 billion short of what state agencies have requested to operate in the 2015-17 budget.

But those agencies won't get everything they ask for. Plus, these calculations don't account for income and property tax cuts promised by Walker for the next budget. That means this estimate will change.

Thursday, November 20, 2014

Walker running up projected deficit to $2.2 Billion, but still promises more tax cuts. Thank you "stand with Walker" voters.

With all the irresponsible tax cuts enacted by the Republican legislature, and now lower than expected revenues coming in, Scott Walker's Wisconsin is running deeper and deeper into debt. 

Even if some of the requested spending is eliminated or paired back, the deficit projection is a realistic look at what the state needs to maintain the same quality of life and essential services we had before. What we're seeing in this projected deficit is real world budgeting disproving an already failed ideological fantasy exemplified by the Great Recession. 
The Wisconsin Department of Administration's 2015-17 state fiscal report projects a staggering $2.2 billion deficit. 
Wow, this is just what Republicans wanted. Just ask Rep.Robin Vos:
“The numbers put out today show what it would cost to fund everyone’s wish list. The reality is that’s not going to happen. We will continue to manage the state’s finances by making prudent decisions and doing what’s best for Wisconsin and its taxpayers. We will look to cut government waste and fraud, eliminate duplicative services and set the right priorities for the state.”
The more honest answer?
Senate Democratic Leader-elect Jennifer Shilling: “The slash-and-burn approach to budgeting over the past four years clearly hasn’t worked.” 
A while back Sen. Alberta Darling was asked by a reporter what would happen if the new Republican majorities agenda failed. She answered, and I'm paraphrasing, "Make more spending cuts." Amazing.

Monday, July 14, 2014

Walker's record on Slow Job Growth and our ever Increasing Debt.

Supply side Republican diehards have seen their economic dreams turn into one nightmare after another, culminating into what we now call The Great Recession.

The hard work it would take to readjust their ideological thinking is apparently not going to happen. Remember, this is a party of elected freeloaders who get their legislation from lobbyists, all the while despising every taxpayer supported second.

Fiscal Conservatism Fails Again: Scott Walker's economic report card is dismal, as we can all see by Wisconsin's poor showing nationally and in the Midwest. For Walker, slogans and spin can't alter the facts.

The Wisconsin Budget Project charted Scott Walker's failure:
The number of private sector jobs in Wisconsin grew by 1.2% in 2013, compared to 2.1% nationally. State lawmakers have passed dozens of tax cuts since 2011, but that hasn’t spurred job growth. Despite nearly $2 billion in tax cuts over four years, job growth in Wisconsin continues to be slower than anyone would like, and our growth in gross domestic product is also well below the national average.  
While CEO's praise their willing dupe Scott Walker for all the tax cuts, these "job creators" forgot to...create jobs. I'm still waiting for the day a business cut its own revenues because they think people should keep more of their hard earned money? That's what they keep telling government to do, and Republicans are dumb enough to take the bait.

That's not all: And the state’s debt under Walker continues to climb, with no apparent plan in place to solve that problem. According to the Legislative Fiscal Bureau's chart, Walker has increased our debt every year he's been governor, and then some: