14 August 2003
A corner turned?
Probably not the economy still seems to be sputtering but for the first time in two years, state revenues in Oklahoma have actually exceeded projections.
The projections have been very conservative, what with the state's budget in the tank, but the numbers are encouraging just the same; three more quarters like this and we can stash some money in the Rainy Day Fund and shave a quarter-point off the state income tax.
Posted at 7:40 AM to Soonerland
If either of those things actually happened in any state I've ever lived in, there would be a tear in the time-space continuum.
Well, it's the law here: we have to replenish the fund from any budget surplus, and the law that cut the top tax rate to 6.75 percent allows it to float upward to 7 percent when we're in Deep Financial Doodoo.
Oil and gas saves our ass again. Now if we can only get the price of gasoline to $2 a gallon...
Let's hope that surplus goes back into the school districts where it belongs.
Since I've moved out of Oklahoma, I have to say I've learned to appreciate it. (mumbles something about moonbat liberal governors)