Editorial: States right to seek federal stimulus plan
Thursday, December 4th, 2008
By Staff
The new year could see many new construction projects in North Carolina.
Tuesday, both Gov.-elect Beverly Perdue and Gov. Mike Easley, along with most of the nation's governors, met with President-elect Barack Obama in Philadelphia about crafting a federal economic stimulus program that would, among other things, provide states money to use for infrastructure projects.
The idea seems like a good one. Besides ensuring that many necessary projects would be completed, it also would boost the economy. Also, scheduling construction projects during a recession, when labor and other costs likely will be lower, could provide states more bang for their bucks.
States need an infusion of federal money. They are facing budget deficits that could reach $60 billion in the next six months, and, unlike the federal government, most are required to balance their budgets.
North Carolina's shortfall alone could be $1.6 billion by June 2009, the end of the fiscal year. (more…)
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