Governor Walker is facing a $283 deficit in the current budget that has to be satisfied before the end of June 2015. As we have all read here and in the other media, one of the sleight of hand tricks up every governor’s sleeve is deferring paying principal on state government debt and incurring further interest expenses for the taxpayers. But as Todd Berry, president of the Wisconsin Taxpayer’s Alliance, is quoted in a Bloomberg Politics article, that’s a lot of money to find through cuts:
“They need some cash,” said Todd Berry, president of the Wisconsin Taxpayers Alliance, a nonpartisan research group that examines taxes and government spending. “This is kicking the can down the road.”
Berry said Walker has little room to maneuver.
“That’s a lot of money to try to find in four-to-five months, if you do it through cuts,” Berry said.
So it will be extremely hard for the governor to find $283 million in cuts from a $40 billion budget before the end of June while the University of Wisconsin should have no problem finding $300 million in cuts from a $7 billion budget in essentially the same time frame (actually a shorter period because the actual state budget probably won’t be complete before April).
Maybe if the governor stayed home a bit more, he’d have time to work this out. Ya think?