Massachusetts Gets Lower Than Expected Revenues

I'm a Massachusetts Resident and I could have told you this was going to happen and will happen at least the rest of the year.

Governor Duval Patrick announced that September tax revenues were $243 Million below expected projected collections. That announcement made the first quarter collections $212 million below projected collections. What does this mean? More cuts or rate increases!

We just started paying a 6.25% sales tax here in Massachusetts on August 1st. Well it certainly didn't help here. If Massachusetts thought that a sales tax increase, Registry of Motor Vehicles Increase, and other increases were going to stabilize our state, well it didn't. They never get these estimates right. They always over-estimate tax collections. Well take a good look Mr Governor, nobody has a money to spend to pay that 6.25% sales. Nobody has the money to buy new cars, or even used cars to pay those RMV increases they just did yesterday.

So now newspapers like the Boston Globe are predicting more cuts; job cuts, local aid cuts, and program cuts. This state just continues to be loosing jobs so people have no money to spend. We're holding onto the cash we have or paying off existing debt; such as credit cards.

Massachusetts needs to curb unneeded spending now. The problem is what's unneeded spending? I certainly think there is some unneeded spending, but not millions.