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Thursday, October 09, 2008

Virginia To Lay off 500 Employees - It's a Start

VA Democrat Gov. Tim Kaine said that he will lay off 500+ employees immediately to help bridge an expected $1 billion budget deficit.

First, I have no idea how they are in this position - Virginia's state revenues have been growing at 8-10%/year for a decade. They used up this revenue growth by bloating the state's payrolls.

Second, the state has 116,000 employees - a layoff of 500 is a good start, but we're still likely double the number we had about a decade ago.

Here come the tax increase proposals...