State is going to survive
It appears like the State of Alabama’s financial shape will be OK at least while the economic stimulus package is helping us. State Finance Director Jim Main told the Clanton Lions Club on Friday that our two biggest budgets will receive a large sum of money from the federal government to help offset losses posted due to the loss of jobs and lack of consumer spending.
While our state government isn’t the best example of fiscal responsibility in our country, it is good that our state’s financial shape is much better than others. While there have been some layoffs, there haven’t been as many as other surrounding states. Schools are experiencing proration, but the federal handout will help to offset most of those budget shortfalls.
Other states are looking at raising taxes or making major cuts in their services, but fortunately we won’t have to do that.
Let’s hope the stimulus package will help us ride out the storm until our economy begins to turn around. Otherwise, our state legislators will have some difficult decisions in two years.