While this represents news of the weird, it also made me think, maybe Pennsylvania needs an official state psychic.
For instance, a psychic might have predicted that:
- The state would not have received $850 million from the federal government in FMAP funds. Gov. Rendell now says that money is unlikely, less than a month after banking on it to balance the budget.
- The federal government would reject I-80 tolling. Since Gov. Rendell and lawmakers had banked on this for $415 million, they now are holding a “special session” on transportation funding.
- State revenues would not “bounce back” as the administration predicted in April. In reality, Pennsylvania collected $400 million less than was expected.
- The 2008 budget would end in a huge deficit, which ended up being $3.2 billion.
- Using the MCare fund to balance the state budget would not work. Earlier this year, the Commonwealth Court ruled that this raid of the MCare money was illegal and must be repaid; thus creating another $800 million hole in the Pennsylvania state budget.
- The federal “stimulus” legislation would do little to spur economic growth. Today, unemployment is substantially higher than proponents predicted it would be without the stimulus.
- A minimum wage increase would result in lost jobs – which we saw, beginning with younger, low-skilled workers, before spreading to the rest of the economy.
- The pension crisis would not be solved by endless investment gains. Indeed, the projected increase in taxpayer contributions in scheduled to rise by about $1,300 per household in two years.
Wow, maybe we do need a psychic. But you know who else could have told the our elected officials all this? These guys!