North Carolina $3.7 billion deficit, $43.7 billion in debt

The North Carolina Budget for 2011 is $19 billion. It received $634 million in budget  bailouts from the federal govt.

The state debt is $43.7 billion. Horrible.

Despite its “balanced budget”, like most states it fudged the figures and now faces a $3.7 billion deficit.

Lawmakers said in January 2011 that the state’s financial problems would require deep, rapid cuts in agencies and programs and reductions in the state work force. I wonder how effective they will be in doing that?

North Carolina does not allow public employees to collectively bargain. This may help the state in the future.

click for story