As the fiscal wonks at the N.C. Budget and Tax Center have repeatedly warned us would happen, the 2013 tax cuts (which went overwhelmingly to the rich and large, profitable corporations) continue to wreak havoc with the North Carolina state budget. As WRAL.com reported late last night, a new memo to lawmakers from the legislature’s Fiscal Research Division warns that the state budget shortfall is now up to $271 million for the current year.
Remember, this is happening in a time of (albeit imperfect) economic recovery around the country. For the most part, other states are gaining back the ground they lost during the Great Recession and repairing the damage inflicted upon essential state services.
Here in North Carolina, however, the opposite is true. Public spending on core functions like public schools remains mired near the bottom of the 50 states and, amazingly, many state agencies are now being asked to plan for a new round of additional budget cuts in 2015-16.
The bottom line: If things continue this way, conservative state leaders will succeed in their quest to fulfill right-wing icon Grover Norquist’s dark and disturbing vision of shrinking government down to the size at which they can “drown it in the bathtub.” Moreover, from the looks of things, they’re going to take a lot of average North Carolinians down the drain with them in the process.