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NEW YORK (CNNMoney) -- Taking an unusual tack to dealing with a $3.6 billion budget deficit, Florida Gov. Rick Scott unveiled a budget Monday that cuts $4 billion in property and corporate income taxes.
The budget, which the newly installed governor has said is the nation's most fiscally conservative, also cuts $4.6 billion in spending from services such as Medicaid and prisons. Public employees would also have to contribute 5% for their pension benefits, which will save $2.8 billion over two years.
What is unusual about a "conservative" handling deficits with tax cuts and reductions in public safety nets? It is, however, unusual IMO to see cuts related to prison, at a time when it has grown into a business-oriented market.
Here in Texas, the "conservative" governor Perry found a way to cut $50 million by eliminating agencies and jobs to address its tens of billions in deficit ($27B over next two years).
It will prove to be interesting. I'd like to see the numbers on the number of legal residents in FL who are on the Medicaid roles. From personal observation of multi-generational native Flroidians I suspect dependency upon Medicaid it is quite high compared to other states.
It will be an interesting experiment on how Floridians react to "austerity measures".
Last edited by lifelongMOgal; 02-08-2011 at 01:40 PM..
Reason: typo
It isn't the gov't's job to create jobs just for the sake of creating jobs. The steps Florida is taking will ensure Florida's long term financial/economic viability and promote private sector growth.
Don't worry, when you're proven wrong and it creates jobs, you can always backpedal and credit Obama's federal stimulus plans. WIN-WIN
Current jobs - 8500 = -8500 jobs.
Math.
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