State, city and county budgets in oil producing states will now take a double hit. However, I hope our Governors and Mayors understand that their citizens are getting hit harder than they are---and I think they are in for a shock when they see their own revenues. There is a fix for state budgets---I have walked into a state with a $550 M shortfall with a negative ending balance of nearly $30 M and in 18 months had $700 M in ending balance---and I will put out a range of op...tions tomorrow for Oklahoma and Kansas legislators to consider. There are two things they can do right now: 1) open up every county with low or falling rates of new infections and ask the at risk to self isolate and 2) assure taxpayers that budgets going forward will NOT balance by raising taxes. Having been one of those who saw my own oil and gas company wiped out in the '80's bust I have a real sense of dread for the many people in the industry. They have acquired home mortgages and other debt just as every other person in our states and now in one quick move with no warning they are being wiped out. I know how it feels! One day I was walking on air and within a few months I was wondering how I would pay bills. However, I was lucky to not be leveraged and I saw many who were lose everything including their marriages. The fix for the states' budgets are not all that difficult and some of it has needed done. The good times have let the liberals swell the budgets with bad and/or inefficient programs and poor allocations of resources.
from State, city and county budgets in oil producing states will now take a double hit. However, I hope our Governors and Ma...
