The forecast is out and it’s brutal. Another $1.4 Billion down. Here are some random thoughts:
- We’ve already cut too far. It’s time to increase taxes. In Washington they’re often regressive and not a great idea in a bad economy. But they’re better than the cuts we’ll have to make.
- I can only imagine what this will do to schools and government services.
- We really need an income tax.
- Maybe I’m wrong, but it sure feels like everyone knew the forecast would be bad before it came out. In the last open thread there was some discussion about how we’d want to forecast more accurately.