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

Advertisements