Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts

Monday, July 13, 2009

The Free State Still in the Red?! 700 Million Dollars Must Be Still Cut!

The Government of Maryland is still 700 million dollars in the red. This is despite salary freezes, cuts to road aid, and taking advantage of the American Recovery and Reinvestment Act of 2009. Governor O'Malley is planing this week to present a package of cuts to the Board of Public Works.

This is a bit of old news because it was reported on July 10. But what cuts is the Governor planning to propose?

Friday, September 26, 2008

Great, more budget cuts.

O'Malley (D) predicted an "extraordinarily difficult budget next year" if his administration does not start to pare spending during the current fiscal year. "While these cuts will not be easy, it is clear that the economic crisis our nation is experiencing will have a dramatic impact on next year's budget," he said in a statement.

No comment. Except for one: Tax the corporate pigs more next fiscal year, because I'm getting sick of the word "Budget Cut".

Wednesday, May 07, 2008

Here We Go Again.

Yet again, schools in the Washington DC area are planning to, again, increase class size in the face of a tighter budget. Fairfax County,Virginia is planning to save $11 million. Loudoun County,Virginia is planning to save $7.3 dollars. The Maryland counties of Montgomery and Prince George’s: their planned savings has not been disclosed, are either seeking to combine smaller classes or cut support staff and teaching specialists.

Haven’t I seen this before last year?

Increasing pay for teachers would not solve another problem: purchasing supplies. Even with the cost of living increases they still have to buy school supplies that the school itself is supposed to buy.

As for the middle class families can transfer to a private or parochial schools, what about children of working class families? What about disabled children? What about those who speak English as a second language? If they remove the specialized staff, they will have a difficult time in school.

Again, this is easily solvable. Repeal the property tax. Implement a county income tax. Use general taxation to fund schools.

As for the class sizes: Reduce classes to 15 students, per class. From elementary to high school.

News Source: To Save Money, Some Schools In Region Plan Bigger Classes

Monday, March 03, 2008

Tuition Increase Likely! Maryland Senate Subcommittee Approves Higher Education Cut!

If you are a student of the University of Maryland chances are you may have seen stickers promising that if you vote Democrat they'll freeze tuition. But sadly there's something called the Universal Laws of Politics. The first rule of the universal rules of politics is that most politicians don't keep campaign promises when actually elected. Such is the case if O'Malley approves those cuts.
A state Senate subcommittee Friday approved over $80 million in total cuts from the governor's proposed budget, including $6.8 million in cuts to the University System of Maryland, which includes the state's 13 universities and research institutions.

...
  • More than $10.5 million of the system's unrestricted funds will be held until each institution can prove its student enrollment is growing at a healthy rate. Institutions that meet their goals will be given their portion of this money, and those that don't might see some of their money go elsewhere in the system.
  • Nearly $6.8 million in unrestricted funds will be cut from the system budget, and the cuts must be distributed fairly among all the system institutions. The system will be required to spend at least 4 percent more on each student than it did last year.
  • $15 million will be cut from the system's allotment of general fund money. In its place, the system will be allowed to take $15 million from the Higher Education Investment Fund, created last year to set money aside for higher education and supplement state funding when needed.
However there is hope:

State officials expect that there will be nearly $15.4 million in the HEIF at the end of this fiscal year, so the subcommittee effectively voted to drain the savings account. When Gov. Martin O'Malley released his budget in January, he proposed using HEIF money to freeze tuition next year and possibly the following year, as well. So even if the General Assembly adequately funds the system this year, next year's safety net is gone.

Madaleno said spending the HEIF money now rather than saving it for later makes sense in the long run. He noted the importance of "keeping higher education off the funding roller coaster" it has been on for about a decade. He said if the state moderates spending during good economic times, cuts when money is scarce won't seem so severe.
But if that HEIF spending plan falls by the wayside, and O'Malley approves the cut, it will be proof that the first rule does apply, and that most Democrats are just as conservative as Republicans since the Regan era.

Wednesday, February 27, 2008

Another Budget Cut?! $300 Million?!

This is proof that no matter who you vote for in the American Idol era, when it comes to bread and butter issues most Republicans and Democrats improve. Especially in the budget cut mania Maryland having for... I don't know, ever?
Lawmakers have been looking for $200 million in cuts in O'Malley's proposed budget to compensate for the flagging economy, but now they are saying that could rise to $300 million or more when updated revenue projections come out next week.

...

Three months ago, O'Malley called the General Assembly into a special session to close the state's structural deficit with $2 billion in tax increases and spending reductions, and a proposal to legalize slot machines that is subject to ratification by voters.

"The likelihood is, given the national economic downturn, that those difficult series of decisions will continue," O'Malley said. "Everybody is looking at the revenue estimates, and if they are coming in lower than projected, there will have to be further cuts."
But I bet there will not be any cuts to corporate welfare and their prison-industrial complex. I can promise you that. But there is one way we can stop this mania: Abolish balanced budgeting.

Monday, February 25, 2008

$2 Million Dollars?! What About Our Profits?!

The O'Malley Government is supporting a bill that would require power plants and other industries that pollute to pay air pollution fees so that the Maryland Department of Environmental Resources to use the money to hire 26 vacant spots for inspectors.
"We need to have adequate enforcement of our air pollution laws, and we don't have that - only 18 inspectors looking after 11,600 sources of air pollution," said Sen. Brian E. Frosh, a Montgomery County Democrat and sponsor of the bill. "That means more air pollution, which causes more health problems for people."

Critics of the legislation say that raising the fees on smokestacks would place an unfair burden on businesses and could lead to higher electric bills for a public already complaining about rate increases.
Here's the difference, the latter were just electric bill increases so that Constellation (who owns BGE) to make more profit. The former is a non issue, because air pollution affects everyone. You want to know a better idea? Outlaw all air pollution except for trace amounts.