An analysis of the state budget by the N.C. Budget and Tax Center (BTC), a Raleigh nonpartisan research group, outlined the effects of the $19.7 billion budget on the state's economy. Its report states that the budget could move 30,000 North Carolinians to unemployment lines over the next two years.
The BTC figure includes a total of 44,576 job losses in two years, and the creation of 14,793 new jobs from the budget's proposed tax package. That's a net loss of 29,782 jobs - mostly middle-class workers, with an average salary of $40,438 according to the BTC report. That's a net loss of over $12 million in salaries that could be spent in the North Carolina economy.
Sen. Richard Stevens of Cary claims that only 8,500 state jobs will be eliminated and 11,000 will be created in the private sector, but ignores local job loss impacts. Even that small gain doesn't sound like statewide job creation or economic development to me.
Maybe the legislative leadership will explain how their budget helps the state. What is its impact in 10 years? Does it reflect our values? From my perspective, this budget is nothing but bad for North Carolina's future, for its people, the education system and the environment.