Update: Lynch confident on budget outlook

By Brian Lawson, PolitickerNH.com Reporter

Gov. John Lynch (D-Hopkinton) says that New Hampshire is on track to have a balanced budget at the ending of this fiscal year.

Lynch said the state has taken "appropriate steps" to deal with the budget crisis.

"We froze hiring, equipment purchases and out-of-state travel, and reduced spending in the fiscal year 2008 budget by $50 million, while protecting essential services for citizens," Lynch said in a statement. "Although the books on fiscal year 2008 are not yet closed, I am confident we have taken appropriate steps to put New Hampshire on track for a balanced budget for this fiscal year and the biennium."

In early June, Lynch won approval to cut $30 million from next year's state budget. Republicans argue that the state will be facing a $200 million budget deficit next year.

Update: House Speaker Terie Norelli (D-Portsmouth) said the budget shortfall was "expected."

“We expected these to be affected,” Norelli said. “The housing market is way down. People are not eating out as much; people are putting money into their gas tanks, not buying lottery tickets or liquor.”

Previously on PolitickerNH.com:

-Governor, Speaker, Senate President Announce Plans for Special Session to Continue Their Efforts to Ensure a Balanced Budget

Brian Lawson is a PolitickerNH.com Reporter and can be reached via email at brian.lawson@politickernh.com.

Related topics: John Lynch, BUDGET CRISIS, New Hampshire budget

Email this Article

Comments

Yeah, completely balanced

posted by Anonymys

Yeah, completely balanced budget.

If you don't count all the debt we're taking on in new bond issues to cover payments on old bonds.

We're paying off the mortgage with a credit card, but oh no, we've got a totally balanced budget and aren't doing anything even remotely irresponsible.

This is how New York City got its fiscal crisis in the '70s.

07/02/08 11:04 am

Lynch Credit Card Debt

posted by AnonymousGOP

The only way he knew how to balance the budget was to put the debt on a credit card and place on the backs of future generations. Good work Governor Carter...ah I mean Lynch!

07/02/08 12:36 pm

Lynch's rationale =Oxymoron

posted by No to Lynch

Balanced budget by borrowing? That is an oxymoron. Lynch is a Shaheen clone who will do the very minimum just to get good polling numbers. Whats even worse is that only 27% of NH residents know that the state is in deep debt.

However, Norelli takes the cake with her BS excuse. Last time i checked those independent budget reviews were on the money when they said the budget would never be met. Too bad Lynch and the spend happy majority didn't listen.

07/02/08 3:56 pm