http://stream.publicbroadcasting.net/production/mp3/knau/local-knau-879344.mp3
Phoenix, AZ – In simple terms, the budget for the current fiscal year that's
already half over is still about $1.5 billion in the red, even
after a series of spending cuts and financial maneuvers. And the
outlook for the coming budget year is even worse, with the gap
between revenues and expenses somewhere in excess of $3 billion.
Speaking to the Arizona Chamber of Commerce, House Speaker Kirk
Adams said fixing the problem will require further cuts.
(It will also require revenue solutions and will require debt
financing. None of these choices are going to be popular. But
they are dictated by our circumstances and not by our desires.
Simply put, we are out of money and we must act.)
Senate President Bob Burns said that, even with all the publicity
about the deficit, some people are having a hard time
comprehending the depth of the problem. To help, he said the best
way to look at is that the economy has been in an accident.
(And in my opinion state government is in the front seat without
a seat belt on, and went through the windshield. And so we have a
patient that is in critical, critical condition, laying on a
guerney in the emergency room if you will and bleeding
profusely.)
What that means, Burns said, is lawmakers have to stop the
bleeding. For Arizona Public Radio this is Howard Fischer.