Arkansas Blog: We're in the money

The state revenue report for June shows that the state tax stream hasn't disintegrated just yet.

Revenue for the month was up. The gross amount was up 4.2 percent over the same month last year and up 8.5 percent over forecast.

June was the last month of the fiscal year. The state took in $5.575 billion overall in fiscal 2008, 2.5 percent more than the previous year (and reflecting a cut in the state sales tax on food) and .8 percent above the forecast, as revised in May.

The state ended with a surplus of $176.5 million in general revenues. Enough cushion to take the rest of the sales tax off food? There are some who think Gov. Mike Beebe's squeaky tight budgeting elsewhere (colleges, particularly, are howling) has that in mind.

Or maybe he'll just loosen state spending. His statement today:

"Even though Arkansans are struggling with skyrocketing fuel prices and other increasing expenses, our State's economy continues to show signs of strength in spite of the national downward trend. Our conservative budgeting and careful planning have put Arkansas in an advantageous economic position compared to many other states. Because our national economy still faces daunting challenges, I remain alert to the potential for additional downturns in the coming months.

"If we continue to hold steady in the next two-to-three months, we will consider revising our economic forecast upward and restoring at least some of the funding that our state agencies have been asked to do without in the new fiscal year."

Comments

I guess President Bush's ingenious plan to stimulate (i.e. prevent a total meltdown of) the economy is having some success.

Posted by: Severus | July 2, 2008 10:45 AM

While the state is in the money, it appears the women working in Barack Obama's (Peace Be Upon Him) Senate office may not be.

Posted by: Arkansas Red | July 2, 2008 11:01 AM

I hope he's not working on another behind the scenes corporate welfare scheme. Maybe an SUV plant for the delta...Revenues are up because prices are up. When the credit cards get maxed out the shit hits the fans.

Posted by: Roderick A. Bryan | July 2, 2008 11:01 AM

>>>"Our conservative budgeting and careful planning have put Arkansas in an advantageous economic position compared to many other states. "

Ah spoken like a true PLUTOCRAT ! Hmmm. Think the working folks of Ark across the spectrum had more to do with your rosy economic situtation than you. Also, the Fed gubbermint primes our pump substantially. What's the ratio? For each Fed dollar that goes out of Ark 5 federal dollars come in. Also, Ark's Constitution prevents deficit spending.

Servus. It was the second mortgage push that kept Bush and "Deficits-don't-matter-Cheney's asses out of boiling water. That huge push ended in 2006. Second mortgages produced tons more disposable cash than The Monkey's $300-$600 handouts. By the way, if I ever hear a conservative talk about government handouts again I get to remind them that Bush-Cheney have set the standard.

Posted by: eLwood | July 2, 2008 11:05 AM

How about initiating something truly progressive by becoming the first state to issue a statewide economic stimulus plan? Take a few year's worth of the severance tax and spread it among Arkansas families.

Discuss.

Posted by: City Watch | July 2, 2008 11:22 AM

Does anyone know what percent of the pie the remaining grocery tax makes up? And Cheney-Bush got nothing to do with it, Arkansas taxes are high, so that explains how we get 176 million extra in the kitty. A feller used to have to worry how to pay the Federal tax, now it's the state taxes that eat up my cookie jar money.

Posted by: Deathbyinches | July 2, 2008 11:28 AM

>>>it appears the women working in Barack Obama's (Peace Be Upon Him) Senate office may not be.<<<

Note "appears". This is the key operative word. It's the same key operative word that magicians use.

"By one measure, however, women did do better in Obama's office than in McCain's. When the average salary was calculated for all people on the office payroll, including interns, Clinton paid women an average of $51,948, Obama paid women an average of $48,729, and McCain paid women an average of $47,898. (Clinton's and Obama's average salaries are relatively unaffected by adding the interns because Obama employed only one intern, while Clinton employed none. McCain, by contrast, employed 23 interns during the period, including 15 men and 8 women.)"
Cybercast News Service.

Meanwhile, did you know that Republicans impeached President Clinton based upon a lie about a BLOW JOB?

Posted by: eLwood | July 2, 2008 11:37 AM

"I formed Hot Air Network, LLC, to bring ideological diversity-because we all love diversity-to the videoblogging world. And because it looked like a lot of fun. "
Michelle Malkin
Founder, Hot Air
April 24, 2006

Michelle Malkin is a nationally syndicated columnist and best-selling author, as well as Fox News Channel contributor.

Posted by: eLwood | July 2, 2008 11:43 AM

Wow, eLwood. Why are you so fixated on Bubba's boner?

Posted by: Arkansas Red | July 2, 2008 11:58 AM

Red, Just wanted to get your incessant "He Lied" in. Just scan the blog and see how many times you mention President Clinton and "he lied." Also a blow job and a boner are two different things. Check it out sometime. Meanwhile there's some help for you on my bluename

Posted by: eLwood | July 2, 2008 12:40 PM

Does Game and Fish still collect sales tax on food?

Posted by: bugeyedlittlefreak | July 2, 2008 03:02 PM

Arkansas Blog

We're in the money

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