Publisher's Note: Lucky NH
By Jody Reese
While the State of New Hampshire is looking at a budget shortfall of about $400 million — about an 8-percent cut — the federal government is looking at a $1.3 trillion shortfall or if it wanted to balance the budget this year a 30-percent cut in spending.
Newly elected congressman Frank Guinta says he will call for an audit of every single department in the federal government. But to be effective, he’d have to eliminate some key things the federal government has done for the last 50 years, such as all of Medicare and Medicaid, as well as a good chunk of the military.
That seems unlikely. In fact, it is almost assured that Guinta and the rest of Congress will support a budget that would increase the debt by more than a trillion dollars. Those promised tax cuts? Unicorns are more likely.
While promising tax cuts and balanced budgets makes for great campaign signs, those two things are mutually exclusive. Tax cuts are one of the reasons the federal debt is so high. At the state level, while spending increased, so did taxes. Not so at the federal level; federal taxes are at their lowest point since World War II.
If Congress is serious about balancing the budget it will have to dig into some major cuts, including to the military and Medicare and Medicaid, and raise taxes — not popular.
Makes New Hampshire and its mere $400 million hole seem lucky.
Parking nightmares: In a clear attempt to make parking in Manchester as complicated as possible, the city is banning same-block parking in a 24-hour period. That’s right: if you park on a block you can’t return for 24 hours, though proving you’re a serial same-block parker might be difficult. I’m waiting for Concord to copy this too. That said, Manchester actually has plenty of available parking, especially in the garages at night. They’re safe and affordable.
Good News: Though it didn’t make for good headlines there was some good news hidden in the job numbers for October. The private sector is creating jobs at a rate of about 150,000 per month. And economists say we have definitely avoided a double-dip recession. Profits at many of the country’s largest companies continue to increase.