Yeah, Right

This article reports that the N.C. state House is planning on balancing their budget plan for FY 2009-10 without any tax increases.

House members are putting together their North Carolina government budget plan as if they won't be raising taxes to help pay for it.

My response to that opening was a highly skeptical, "yeah, right." The state is facing a whopping $4.6 billion budget hole for the coming year, with about $1.4 billion in federal funds to help close that gap. That leaves $3.2 billion - or about 14% of the anticipated budget obligations - left to cut.

A few lines later in the article, reality sets in:

(Lead House budget-writer) Michaux cautioned higher taxes may still be needed but that a method hasn't surfaced yet.

Tax hikes are coming folks, its just a matter of how much and on whom. Also likely are significant cuts to state employee payroll.