April 16, 2015

News and Observer editorial page Editor Ned Barnett might be barbecuing crow come July 4th.

He’s one of the media pack blasting Republicans for a horrendous drop in revenue because of tax cuts. But now his own paper has to report state revenue is $257 million ahead of last year.

Eat CrowSource:

Just a few months ago, when state tax collections were hundreds of millions behind, Ned declared “State revenues are expected to be at least $200 million below projections… Tightening government spending while the economy is trying to come back has stymied the recovery in North Carolina. Republican leaders showed not a whit of concern about the revenue shortfall.”

Now, the figures show that our stronger economy (110,000 new jobs last year) is closing Ned’s sky is falling shortfall.

Revenue collections are tracking with last year and are growing. There are 3 more months left in the fiscal year. It’s too early to be definitive. But it just might be that Ned Barnett won’t be serving hot dogs and hamburgers at his 4th of July cookout. He’ll be eating crow.