The last decade, 2000-2010, continued a long-term trend of out-of-control state budget growth. During this period private sector jobs disappeared while the state government added more than 40,000 jobs, a 14% growth rate. From 1980-2010, the Democrat run North Carolina Legislature more than tripled state spending and the state budget grew more than three times the rate of population growth.
During the last decade state debt exploded. The state's per capita state debt grew 2.5 times during this period which forced the state's annual payment on debt to triple. More debt means more annual payment which means higher budgets. This kind of spending can not be sustained.
High levels of spending lead to tax increases. In the summer of 2009, the democrat dominated General Assembly raised North Carolina taxes $1.1 billion while the state and its citizens were struggling with a recession and unemployment of 10-11%. This was one of highest tax increases in our state's history. It included a "temporary sales tax increase" as well as increases in income tax and "sin" taxes. The sales tax increase resulted in making our state sales tax the 8th highest such tax in the country. Fortunately the voters of North Carolina recognized the folly of this tax and spend policy and elected me and other Republicans in 2010, which resulted in our control of the Legislature. We promptly lowed taxes about $1.5 billion, the largest tax reduction in our state's history, and ended the "temporary" tax over the veto of the governor. We greatly reduced the corporate income tax rates and later in the year attemped to cap the gas tax. We must continue to reduce all the state's taxes untill we are known as the most businesss friendly state in the south.