The Louisville Courier Journal was silent a month ago when the state issued real statistics indicating that revenues for the just-ended fiscal year represented an increase over the previous year.
This didn’t fit with the “we need tax increases” story, so it never saw the light of day.
But now the same newspaper is jumping on similar speculation in the new fiscal year to suggest that the evidence for new revenues is just around the corner:
“This report is a preliminary review based on no actual receipts data. It’s based on national economic indications that anticipate a continuing decline in economic activity,” said Budget Director Mary Lassiter. “It causes us concern, but it’s way too early to translate that into a revenue shortfall. We’re hoping things turn around.”
Now if we could just prioritize our spending by category and drop programs we can’t afford instead of angering all the constituency groups and spurring on their lobbying efforts, we might be able to break out of our tired old boom-and-bust cycle.