Bob, Eddie does not sit on a pile of money, every state, county and town thru out this country is hurting for money and are slashing jobs and services to save money.
Bob read the information provided by the state of PA:
State budget in crisis
Harrisburg, Feb. 19 – On March 4, Gov. Ed Rendell will deliver his inaugural budget address to a joint session of the General Assembly and, according to state Rep. Ted Harhai, it likely will include some discussion of the more than $2 billion budget deficit facing Pennsylvania.
"Now is not the time to paint a rosy picture of the financial challenge that Pennsylvania faces in the coming fiscal year," Harhai said. "The truth is that to plug holes in the state budget, the former administration used $1.8 billion in one-time fixes. Like any money that is borrowed, it must be repaid, and this year state officials must figure out how to make up the deficit.
"I'll be honest – this is going to be a challenging budget year. It is important that all Pennsylvanians fully understand what is going on in Harrisburg, so that they are better informed about how the budget could affect them and their families," Harhai said.
Harhai said that people should look forward to an honest and proactive approach to balancing this year's budget.
"The time for one-time fixes is over," Harhai said. "The state's Rainy Day Fund is depleted and federal funds are scarce. As we begin work on the state's spending plan, we must look for new revenue sources and innovative ways to grow the economy. I'm certain that the present administration, with the cooperation of the General Assembly, will rise to this challenge and find the solutions that are necessary. And Pennsylvanians will be informed every step of the way."
According to Harhai, balancing the budget will be a daunting, but not an insurmountable task.
"Pennsylvania has a budget crisis, but we will work it out," Harhai said.
Here are words right out of Eddie's mouth:
GOVERNOR RENDELL PROPOSES PLAN FOR PENNSYLVANIA
TO LIVE WITHIN ITS MEANS
"This necessary first step will not be my final word," Rendell Says.
HARRISBURG, PA (March 4, 2003)
Standing in front of a joint session of the legislature this morning, Governor Edward G. Rendell unveiled a $21 billion budget that requires painful spending cuts but balances a historic $2.4 billion budget deficit for fiscal year 2003-2004.
"I told our fellow citizens that I would not hesitate to make the tough decisions necessary to build a brighter future for Pennsylvania," Rendell said during the forty-five minute speech. "Today, in the face of a budget crisis that is far worse than anyone anticipated, I present a budget that includes a long list of tough decisions…that will surely bring hardship to citizens in every corner of the Commonwealth."
In the face of a $2.4 billion deficit, Rendell outlined his budget that entails cutting $1.6 billion in spending for FY03-04, taken from virtually every area of state budget. In addition, Rendell called on the legislative and judicial branches to maintain level spending, following Rendell's announcement last week cutting $211 million in executive branch bureaucratic costs.
The budget Rendell unveiled today does, however, include over $750 million in increased revenues for FY03-04. Included is the assessment of the balance of the Tobacco Settlement Fund Endowment Account (which will generate $330 million) and the use of the balance of the Rainy Day Fund (providing an additional $250 million).
Rendell also proposed implementing an assessment on nursing home facilities in Pennsylvania, a suggestion made by representatives of the industry, adding an additional $145 million to supplement the Commonwealth's long-term care program.
Rendell pointed out that this budget includes painful cuts all across the board. The cuts will include a series of health care programs, a reduction in most social services grants and many valuable education programs. The budget does hold the Basic Education subsidy and the Special Education subsidy at FY02-03 levels.
"I have prepared this budget in response to the conditions I inherited and the statutory requirements of the state's budget process," Rendell followed. "But this necessary first step will not be my final word."
Rendell followed the outline of his proposed budget with the announcement that he will return for a second joint session of the legislature on March 25, 2003, three weeks following today's address, to detail his plan to invest in a New Pennsylvania.
Rendell insisted that his speech on March 25 will begin "by believing that our best days are ahead of us, and acting on that belief by investing in Pennsylvania once again."
The Governor's Plan for a New Pennsylvania includes historic new levels of education funding to implement programs that are proven in helping children to learn, accompanied by tough accountability measures. Rendell also said he will propose a decrease in unfair and burdensome local property taxes - part of this proposal will be budgeted through the legalization of slot machines at Pennsylvania's racetracks.
Rendell, who was rewarded by his election as Governor for talking straight with the people of our state throughout his election campaign about the possibility of raising taxes, allowed, ". . . I want to be honest with the citizens of this Commonwealth: I anticipate that a tax increase will likely be necessary to make this investment plan a reality."
Further, Rendell's plan will call for an unprecedented effort to invest in Pennsylvania's future by leveraging a $5 billion impact for economic development and job creation through the use of $2 billion worth of bonds.
"These are bold ideas and the time for action is now…I believe that this budget cycle provides the opportunity to start a Pennsylvania recovery instead of waiting for the national economy or the Federal government to bail us out…We have the chance to fix what's really broken, if only we are willing to try," Rendell concluded.
To view the Budget-in-Brief or the entire FY 03-04 Governor's Executive Budget, please visit
www.budget.state.pa.us
