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State To Start Fiscal Year With Deficit

October 11th, 2011 by WCBC Radio

Maryland Comptroller Peter Franchot says it’s time for the general assembly and the governor to stop approving “smoke and mirror” balanced budgets- and to work toward an actual, rather than structural balanced budget. While the state for several years now has passed a balanced budget on paper- in reality, the state will once again start the fiscal year with a deficit- currently at two billion dollars. With talk of a double dip recession on the national and international level- Franchot says the state adopting pseudo balanced budgets is an insult to the many Marylander’s struggling to survive…

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