Tuesday, March 02, 2010

fool me once, shame on you. fool me 17 times...

how many times do your projections need to be off before you realize that you're doing it wrong?

INDIANAPOLIS – Indiana's budget situation worsened again in February when tax receipts fell below expectations for the 17th consecutive month.

State revenue is now $895 million less through the first eight months of the fiscal year than lawmakers thought when they wrote the two-year spending plan. It's also 10.5 percent below the same period last year, a time when lawmakers hoped the numbers couldn't worsen.

the cynic in me wonders whether projections have been intentionally too high, in order to make the governor look better: mitch balanced the budget somehow—what a genius! what a bold leader he is, managing us so well in these hard times!

it would seem the state's monthly tax projections are as untrustworthy as our list of economic successes.

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