PrintPrintThe state’s Board of Economic Advisors meets this afternoon and might recommend deeper across-the-board budget cuts as the recession hits the state’s budget. Many are anticipating a recommendation of another 4% cut as tax collections are behind the state’s forecast. The Budget and Control Board will discuss the issue Thursday.
Staff Report
Published Dec. 10, 2008
The state’s Board of Economic Advisors meets this afternoon and might recommend deeper across-the-board budget cuts as the recession hits the state’s budget.
Many are anticipating a recommendation of another 4% cut as tax collections are behind the state’s forecast. The Budget and Control Board will discuss the issue Thursday.
Slow holiday sales and high unemployment are forcing the cuts.
University of South Carolina economist Paulo Guimaraes said last week that, in a typical recession when the private sector is laying off workers, government steps in with hiring. But that is not occurring. The state government is not filling many open positions, and many agencies are mandating that employees take furloughs.
The state Forestry Commission announced that all of its employees will be furloughed for five days, a move that will save $250,000. The commission employs about 380.
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