Oh Toto… I’m afraid I won’t get my tax refund
$10 million in checking would be awesome for the average American. But it’s terrible for a state:
Kansas’ cash-flow problem stems in part from the worsening recession and lower-than-expected tax revenue.
As a result, the state had only $10æmillion in its checking account Monday morning.
Most immediately, that means the state does not have $24 million to cover payroll for the state’s 42,000 employees and about $20 million for payments to Medicaid providers such as doctors, hospitals and nursing homes, Goossen said. Usually the state processes the payments on Wednesday and sends the checks out Friday.
Ouch. What a poorly run state. Who runs it? Oh… Democratic Governor Kathleen Sebelius. She is scrapping with the Republican controlled legislature that rightfully wants to cut spending by $325 million.
More will have to be done beyond the $325 million. That doesn’t factor in $125 million that the government promised schools and cities after abolishing a tax.
Cut cut cut. You can run a much leaner Kansas.