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Thursday, January 29, 2009

Stimulus Package: What's in It for South Dakota?

Let's start the morning with some numbers:
  • Predicted shortfall in South Dakota's FY 2009 budget: $58.7 million
  • Predicted shortfall in South Dakota's FY 2010 budget: $83.8 million
  • Total two-year shortfall: $142.5 million.
  • State budget aid for South Dakota included in stimulus bill passed by the House yesterday: $167.9 million.
And that's just one item on the list, which includes $198.7 million for South Dakota roads and bridges (that thump you just heard is John Goeman falling out of his chair). Grand total by KELO's count: $476.6 million.

Did our state budget crisis just go poof?

Not a bad haul for a state whose governor skipped the Inauguration. And Governor Rounds was telling us we shouldn't expect the federal government to bail out the state.


  1. There isn't much correlation between the Feds bailout money and its specific restricted uses and the State deficit, even though the dollar amounts seem similar. The programs Governor Rounds is cutting don't mesh with the purposes of the federal monies. The fed money will likely assist employment opportunities.

  2. Add to your shortfall list FY2011. The governor's "optimistic" (his characterization) budget PLANS for a shortfall of > $30 million going into FY2011. How did this guy get through Econ 101? Would you buy an insurance policy from this man?

  3. So we are supposed to be thrilled that the feds are spending my, my kids, and my grandkids money and giving it back to us? What kind of idiocy is this?

    The more reasonable thing would be to cut the size of gov't and cut the amount needed to run the gov't and cut the amount of dependency on fed and state gov't assistance. They are both out of money essentially and yet you want to keep getting the freebies.

    I don't want this bailout. I didn't want Bush's bailout. The first didn't work. And I hope this one falls flat on its face too, and Obama can claim complete responsibility for the fiasco.

    If you want a true stimulus package, cut our taxes. Businesses will then have money to put back in their business and hire again. People will have money to spend on their mortgates etc.

    To be wildly happy that SD is getting gov't stimulus money just stuns me.

  4. If tax cuts were the Yellow Brick Road to prosperity then after Bush's massive tax cuts we should all be better off than we were eight or four years ago. Instead we find ourselves and nation on the Road to Perdition facing the Second Great Depression.

    Moody's study showed that for $1 in corporate tax cuts that only 30 cents was returned to the economy. Trickle down on that.

  5. We'd better not count on that federal money until we've got it in the bank, and we've got a grip on every rope that's tied to it.


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