Cut government spending due to the revenue shortfall
Because of the economic slowdown, the cooling of the housing market, oil prices and a gap between what we spend and what we earn, we are facing an unprecedented budgetary shortfall. While this is a situation I inherited, it is my job to fix it.
It is not a time for whining or "woe is us"--it is a time for leadership, bold action and temporary cost cutting. We have two options: raise taxes, or cut spending. If the Commonwealth of Kentucky were a family, and we realized we were spending more than
we could afford, we'd have no choice but to tighten our belts. Even though state government is not a family, it's about time we began acting more like one. After all, it is the people's money, and we need to be as efficient as possible when it comes to
taxpayer dollars. Raising taxes is and will continue to be a last resort as long as I'm Governor. So, that leaves cutting government spending. We can wring more efficiency out of state government and I intend to do just that.
Source: Kentucky State of the Commonwealth Address 2008
Jan 14, 2008
Some budget priorities won't go away despite budget crisis
In the short-term, this budget crisis will unfortunately reduce our ability to make major new investments in some important priorities. However, the need to lower prescription drug costs for our senior citizens will not go away! The need to increase
college aid and job training will not go away! The need to send colleges and universities better prepared students will not go away! The need to invest in new 21st century jobs will not go away. I remain fully committed to those priorities.
Source: Kentucky State of the Commonwealth Address 2008
Jan 14, 2008
Revenue situation becomes a golden opportunity for change
Ironically, the revenue situation I inherited becomes a golden opportunity to change the way we do business in Kentucky. It is an opportunity to make every state agency leaner, more efficient and more responsive. It is an opportunity to begin preparing
Kentucky to compete in the new economy. It is a way to focus on economic development that will create a stronger economy with jobs of the future rather than those of the past.
Source: Kentucky State of the Commonwealth Address 2008
Jan 14, 2008
