The state reported Friday afternoon that revenues fell $217 million below estimates in May, the second month in a row they came up short of expectations.

The latest decline leaves the state about $310 million short for the current fiscal year, which ends June 30.

The numbers again raise questions about Gov. Sam Brownback’s income tax cuts from 2012 and 2013 and their effect on the state’s financial health.

Critics have blamed Brownback’s income tax cuts, which were cited recently when Moody’s Investors Service downgraded the state’s credit rating at the end of last month.

Moody’s warned that the income tax cuts — without offsetting measures such as spending cuts — would drain the state’s reserves. That, the ratings firm said, would pose a “significant credit weakness.”

The rating agency cautioned that spending cuts won’t be easy because of court-ordered spending on schools, keeping up with Medicaid demands and funding the state’s pension system.

Forecasts already indicate the state could exhaust most, if not all, of its reserves by fiscal year 2016, based on its current spending trajectory.

“It’s time he accept responsibility,” said Senate Minority Leader Anthony Hensley, a Topeka Democrat, referring to Brownback.

Read more here: http://www.kansascity.com/2014/05/30/505...rylink=cpy

but heh.... We can always cut people's pensions!!!!!!!!!!!!!!!! They vote Democrat ANYWAYS!!!!!!!!!!!!!!!

Win WIN!!!!!!!!!!!!!!1

(06-02-2014 10:03 AM)Machiavelli Wrote:  The state reported Friday afternoon that revenues fell $217 million below estimates in May, the second month in a row they came up short of expectations.

The latest decline leaves the state about $310 million short for the current fiscal year, which ends June 30.

The numbers again raise questions about Gov. Sam Brownback’s income tax cuts from 2012 and 2013 and their effect on the state’s financial health.

Critics have blamed Brownback’s income tax cuts, which were cited recently when Moody’s Investors Service downgraded the state’s credit rating at the end of last month.

Moody’s warned that the income tax cuts — without offsetting measures such as spending cuts — would drain the state’s reserves. That, the ratings firm said, would pose a “significant credit weakness.”

The rating agency cautioned that spending cuts won’t be easy because of court-ordered spending on schools, keeping up with Medicaid demands and funding the state’s pension system.

Forecasts already indicate the state could exhaust most, if not all, of its reserves by fiscal year 2016, based on its current spending trajectory.

“It’s time he accept responsibility,” said Senate Minority Leader Anthony Hensley, a Topeka Democrat, referring to Brownback.

Read more here: http://www.kansascity.com/2014/05/30/505...rylink=cpy

So, guessing spending wasn't decreased? That math isn't really hard.

(06-02-2014 10:21 AM)VA49er Wrote:  

(06-02-2014 10:03 AM)Machiavelli Wrote:  The state reported Friday afternoon that revenues fell $217 million below estimates in May, the second month in a row they came up short of expectations.

The latest decline leaves the state about $310 million short for the current fiscal year, which ends June 30.

The numbers again raise questions about Gov. Sam Brownback’s income tax cuts from 2012 and 2013 and their effect on the state’s financial health.

Critics have blamed Brownback’s income tax cuts, which were cited recently when Moody’s Investors Service downgraded the state’s credit rating at the end of last month.

Moody’s warned that the income tax cuts — without offsetting measures such as spending cuts — would drain the state’s reserves. That, the ratings firm said, would pose a “significant credit weakness.”

The rating agency cautioned that spending cuts won’t be easy because of court-ordered spending on schools, keeping up with Medicaid demands and funding the state’s pension system.

Forecasts already indicate the state could exhaust most, if not all, of its reserves by fiscal year 2016, based on its current spending trajectory.

“It’s time he accept responsibility,” said Senate Minority Leader Anthony Hensley, a Topeka Democrat, referring to Brownback.

Read more here: http://www.kansascity.com/2014/05/30/505...rylink=cpy

So, guessing spending wasn't decreased? That math isn't really hard.

Unless they were assuming that the lower taxes would necessarily cause an overall increase in revenues like some believe.

The real problem, politicians will never cut spending ( unless it's on programs for mental illness- they don't vote to much) because it always adversely effects either campaign money sources i.e. big business or to many little people who do vote.