Wyoming Liberty Group
Amy Edmonds breaks down the latest fiscal report by the Consensus Revenue Estimating Group, or CREG, what it means for the future of Wyoming, and what Governor Matt Mead and Wyoming's legislators should do about it.
State revenues are declining dramatically and are expected to continue to decline. That means big ticket items, even crucial ones like K-12 education, must feel the pinch. No one wants the quality of education in Wyoming to drop, but the spending on it must decrease. Why? The Consensus Revenue Estimating Group (CREG) projected in January that total minerals distributions in the five-year period 2016-2020 would be 29 percent or some $2.6 billion less than in the five years 2011-15. That will require real efficiencies and they can only be found where real dollars are being spent.
At the start of Wyoming’s Joint Appropriations Committee’s interim meeting, Governor Matt Mead announced dramatic spending cuts to Medicaid and other health programs. But rather than eliminate wasteful initiatives and prioritize effective ones, Mead’s budget cuts punish virtually every program and could potentially hurt vulnerable patients in the process.
Powering through savings won’t save the state
Wyoming’s Consensus Revenue Estimating Group presented its January forecast update this week. The update shows a continued fall in minerals revenue. No surprise, and given the current situation, expect more of the same as Wyoming’s budget session kicks into gear.
No single provision of Obamacare has been more disastrous than Medicaid Expansion. It’s cost taxpayers billions more than promised and hurt the very people it was intended to help. Now Governor Mead wants to try yet again to expand this ruinous government program in Wyoming.
Following an event at an oil recovery facility in Riverton, Mead commented:
“I think it’s appropriate for members of [the Joint Appropriations Committee] and the Legislature, as a whole, to take a look at [Medicaid Expansion] and see if we want to again forgo that money during these tough budget times.”
Never bark at the Big Dog. The Big Dog is always right.
On July 28 the Consensus Revenue Estimating Group (CREG) published its quarterly update on state government revenue. While CREG as usual takes a low profile approach to the state's revenue problems, the actual message in the report deserves some real attention.