The Milwaukee Journal Sentinel has a story on Wisconsin’s difficult fiscal situation entitled, Next Wisconsin governor faces big deficit. The story has detail and analysis of all three major party candidates’ (Barrett, Walker, Neumann) views.
Here’s a summary from the story:
The gubernatorial candidates have unveiled plans to deal with a $2.7 billion projected shortfall in the 2011-’13 state budget. Assuming their plans work, here’s how much of the expected deficit that they have yet to solve:
Scott Walker (R): Has proposed about $1.5 billion in spending cuts over two years as well as a “sizable” across the board tax cut and more money for roads and bridges.
Amount left: Roughly $1.5 billion after accounting for a large tax cut.Mark Neumann (R): Has proposed holding the growth in overall state spending to 1 percentage point below the rate of inflation but given few specifics on how to do it. Also proposed major tax cuts and possible new spending on limited priorities such as infrastructure.
Amount left: Potentially none if the economy cooperates, but voters still don’t know exactly which programs would get squeezed.Tom Barrett (D): Has proposed $2.2 billion in spending cuts over two years and economic incentives worth at least $46 million.
Amount left: At least $500 million.