Statement on Budget Shortfall

Statement on Budget Shortfall

STATEMENT BY GUBERNATORIAL CANDIDATE CHANDLER WOODCOCK ON STRUCTURAL GAP

Cites need to limit growth of government

(AUGUSTA, Maine) - "Today's announcement that Maine is facing a $570 million structural gap for the next biennium is further proof that we need to get our fiscal house in order. It absolutely must be priority number one.

"The Governor and his political allies can spin Maine's debt load all they want, but this shortfall doesn't even begin to address the seriousness of our financial situation. We owe hospitals $400 million, and our obligations to the state retirement system, along with our other debt, is nearly $5 billion.

"We need to change Maine's direction. It starts by getting spending under control, and by creating an environment where investors view Maine as a predictable and reliable place to locate a business, create jobs and invest in the future.

Until we get the economy back on track and implement real spending reform at all levels of government, we will not be addressing the root cause of our debt load."

http://www.woodcockforgovernor.com/showNews.php?newsID=120