[flu189]

Originally Posted by mustmove

We should get 3 electoral votes worth of bailout money-

There is a lot of truth to this statement. We will probably get some federal dollars, but it won't be enough to balance the state budget or keep the current program levels of funding running as usual. Forty-five states are jockying for immediate fed bailout cash, California being the extreme example having declared a fiscal emergency. Following our legislative awareness and pending reaction it appears that they do to some degree realize that we have finally reached the crisis point of spending above of taxing capacity. Not to say taxes will be frozen, they along with fees will continue to inch upwards, but now new estimates show that come July '09 Vermont will probably be facing a $250 million deficit, considerably exceeding the $64 million forecast for January. For a state of this size with it's limited capacity to generate revenue is a big deal. Hate to beat a dead horse, but Sen Shumlin provides some of the best soundbites on virtually a daily basis. Today I read where he exclaimed that within his legislative team "too many are in extreme denial" concerning the states fiscal situation. That, folks, is pretty scary.