Friday, November 13, 2009

Wisconsin economic climate compares to California?

You know that your state is in serious financial trouble if your state is being compared to California.

WASHINGTON, Nov. 12 /PRNewswire-USNewswire/ -- Susan Urahn, managing director of the Pew Center on the States, issued the following statement today responding to claims made by Wisconsin Department of Administration Secretary Michael Morgan about Pew's study, Beyond California: States in Fiscal Peril.

"Pew's report is factually accurate and fair. Wisconsin was highlighted in our report because it exhibits many of the same fiscal warning signs seen in California, as documented by widely accepted, publicly available data.

"The facts are clear. Wisconsin, like California and the eight other states Pew profiled, faces serious fiscal challenges. In reaching this conclusion, Pew relied on data from respected sources including the U.S. Department of Labor Statistics, the Nelson A. Rockefeller Institute of Government, the U.S. Census Bureau and experts in both academia and government.

"Our report states that California's budget problems are in a league of their own. But Wisconsin has had persistent budget shortfalls -- the state has had a negative general fund balance from fiscal years 2002 to 2008, according to its own Comprehensive Annual Financial Reports. Additionally, Wisconsin has used short-term fixes to meet budget challenges, such as relying on its transportation funds to cover day-to-day operating expenses.


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