The Toledo Blade reported on March 9th, 2011 the following quote from the newly sworn in Governor Kasich:
”I come to work, and I’ve got an $8 billion hole,” Mr. Kasich said. “That’s never happened before in Ohio’s history… We believe not just in cutting the budget. Oh, there’ll be cuts, but that’s not the way to get there.”
I went back and read all the LBO Monthly Budget Footnotes since Oct 2010 and I’m can’t find any reference to an $8 billion dollar “hole”. If we had such a “hole” wouldn’t it should up somewhere in the monthly Revenue and Expenditure reports?
Then I looked at at the ending balances and didn’t find it there either…I must be lost and confused… No Ohio budget has ever ended a year in a deficit…it’s prohibited by the Constitution.
Four years later, on the Republican Presidential debate stage, he said he turned a $8 billion “hold” into a $2 billion surplus.
Question who has the memo that highlighted the $8 billion deficit? Has anyone updated it since its release in July 2010? If an enterprising person ever took the time do the research and update the 2010 document using the exact same concepts and applied them to the current biennium the results could be alarming.