Kentucky first quarter revenues higher

More evidence that Kentucky’s fiscal problems represent overspending rather than too-low taxes comes from Budget Director Mary Lassiter’s office this morning. Revenues for the first quarter of the 2009-10 fiscal year were $17,798,488 higher than they were a year ago. Even if you include the $15 million drop in the Road Fund, increased revenues point…

Kentucky’s next meltdown

Another problem Kentucky is not addressing is its underfunded unemployment insurance reserve. When the well runs dry, Gov. Steve Beshear can run to the federal government, again, but he will have to stand in line if the situation worsens much more. And I don’t think playing another “hide the pension underfunding” game will work on…

Franklin County kills tax increase

Gov. Steve Beshear won Franklin County in last year’s election 13,878 to 5,022 over former Gov. Ernie Fletcher. He did so campaigning against tax increases, a stance he has since changed. So it was significant last night when Franklin County’s School Board reversed course and unanimously voted to back down from a 4.7 cent property…