"Everything is just fine," said the Captain of the Titanic:
Regarding the Charlotte Observer column “A shortfall of candor” that you reprinted Feb. x: Taylor Batten confuses “revenue” with “budget” There is a $271 million “shortfall” from the 2014 prophecies about the 2014-2015 budget. The budget itself contains explicit language that the governor shall reduce expenditures to not exceed actual revenue. North Carolina does not print money or borrow for current expenses.
The “cautious, conservative consensus forecast” for the General Fund is $20,730,100,000. This is $586,400,000 more than collected in fiscal year 2013-14. That is a 2.9 percent increase, not a decrease. For that same time period, inflation plus population growth is estimated by our nonpartisan professional fiscal staff between 2.8 percent and 3 percent.
Dude, inflation and population growth might have some bearing when you're comparing budgets and revenues separated by 5-10 years or more, but were talking this year vs last year. And last year you had $20,954,461,349 to play with, before you socked away some $300 million for use this year. And according to the Governor's projections from just last year, you should have had $21,090,914,663 to play with this year, and that was already factoring in over $500 million in reduced tax collections. The bottom line? How in the hell are we supposed to figure out the bottom line when you play 3 Card Monty with the money every year? But it appears that $271 million shortfall is really over twice as much, well past the catastrophic point.