rainy day fund

Wearing rain gear and stickers reading, “Guess what?

If water is pouring from the sky, but the governor doesn’t want to see it, is it really raining? From where I sit, it is raining in Tennessee.

In his January 2008 State of the State speech, Gov. Phil Bredesen told the people, “We expect our revenues this year to fall at least $180 million below the final projection adopted last spring.”

The legislature has adjourned passing a budget containing $468 million in cuts:

Several employees will be offered a cash buyout plan to leave on their own. This program could cost $50 million. Affected employees will receive the offer by June 6.

Cara Kumari liveblogged the Governor’s comments to the press in the lead up to his discussion of the budget tonight before a joint session of the legislature.

John Rodgers reports on a coalition of concerned citizens who will be attempting relay a message to Governor Phil Bredesen:

The editorial voice of the Knoxville News Sentinel urges a conservative apprach in dealing with the state’s budget shortfall which essentially calls for all Republican dissenters to keep their hands off the state’s “rainy day” funds.

State House reporter Cara Kumari reports that despite budget woes the Governor wants to “treat state employees right.”

We Tennesseans just enjoyed a tax-free weekend, and Governor Bredesen is none too pleased.

"From all the accounts I've seen I think it was a good weekend," Bredesen said.

It was good for you and your family, but it didn't do anything for the state which is facing hard times.

If I had bought a loved one a Sharper Image gift card, I think I would be uber pissed right now.

You know that Sharper Image gift card you got for Christmas? Right now, it’s worthless. And other gift cards in your wallet could lose their value, too.

As more retailers file for bankruptcy or go out of business, more than $75 million in gift cards are at risk of becoming w

For the number crunchers out there here is some info from the fiscal review committee.

Governor's mansion update

Commissioner Goetz and the State Building Commission appeared before Fiscal Review to allow the committee to ask questions about the improvements planned for the Governor's residence. Following is a breakdown of the dollars spent or/planned to be spent:

State: $3,445,369
Bonds: $9,379,631
Other: $6,400,000

TOTAL: $19,225,000 (Tennessee Res