by Bill McBride on 6/29/2009 06:22:00 PM
Monday, June 29, 2009
Governor Deval Patrick today signed a budget for next year that cuts aid to cities and towns, pares back programs throughout state government, and imposes $1 billion in additional taxes on Massachusetts residents, shoppers, and visitors.Higher taxes and less spending at the state level - what Krugman called the Fifty Herbert Hoovers
“This is without question an austere – and in some respects, painful – budget,” Patrick told reporters. “It contains many unavoidable spending cuts, and many of them will have a painful impact.”
He said the budget “reflects the stark economic realities of the time.”
Meanwhile - no progress in California on a budget.
Posted by Bill McBride on 6/29/2009 06:22:00 PM