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Old 04-16-2010, 12:43 PM
Location: North America
19,633 posts, read 12,456,431 times
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Originally Posted by chielgirl View Post
carter, these are good questions.
I don't have the answers, but I'm sure someone from NJ will be better able to address the issues that you clearly identified.

Florida is constitutionally mandated to work with a balanced budget. What happened, is that they cut property taxes about the time the housing bubble burst. So when the sub prime mortgages began to default, and people started losing their homes, WHAM, no revenue, then the overinflated property values started to tank, and WHAM even less revenue. Double whammy.

The stimulus helped put some back to work, (road construction has quadrupled where I live, it's a ***** to get home, but I realize people are working.) The first time homebuyer tax credit help boost home sales some, and part of the stimulus money helped save thousands of first responder jobs. Crist accepted the money, which was in the best interests of the people of Florida, not necessarily the best interests of the GOP party. He has always been a moderate, and I think has done a great job for the state.

Why the above? because it is an illustration that state budgets are complicated, evewn worse because of the worst recession in a generation.
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