Saturday, February 02, 2013

Frankfort's jig is up

Among the things I have been yelling about for years is the fake balanced budgets state government keeps patting itself on the back about and the pretense to revenue shortfalls. Sadly, state media members have been more loyal to politicians than to their readers or the truth on this front.

A small sign this may soon change came in the form of a front page article in Saturday's Lexington Herald Leader headlined "Kentucky's financial outlook lowered to 'negative' because of pension woes."

Deep in the article was a quote from Moody's, a ratings agency who isn't as susceptible to political spin.

"Kentucky's credit outlook is negative. While revenue growth has improved, the commonwealth's sizable budget deficits over the past few years led to a depletion of reserve balances and borrowing for budget relief."

Republicans and Democrats alike tell their constituents how hard they work each year to "balance the budget." It's baloney. Spread the word, please.

Read more here: