The Senate Democrats have finally come up with some of their own ideas, presumably over a continental breakfast at a two-star hotel somewhere in northern Illinois. The LFB memo is available here.
Here are the details:
In other words, $79MM in additional cuts made by DOA that they say they can't find yet, $43MM of payments delayed to the 2011-13 budget that will cost us $7MM to execute, and a $43MM raid on the statutory balance requirement.
Man, this would make Jim Doyle blush.
UPDATE: As Jeremy Shown was quick to point out, eliminating the debt refinancing also costs the state about $29.6MM in the next biennium. In other words, between this and the MA shift, the Democrats budget adjustment solution requires another $36.8MM in cuts in the 2011-13 budget. Not sure who won the pass or the kick, but I'm pretty sure Mark Miller wins the punt.
Here are the details:
$79MM is saved by deleting a provision in the budget repair bill that reduces the required lapse/transfer provisions for DOA. I guess they want DOA to accelerate spending cuts that even the GOP says they can't find that quickly.
$42.7MM is saved by eliminating MA payments that were accelerated by the Walker administration in order to receive a higher level of federal reimbursement. The net effect of pushing these payments from June 2011 to July 2011 is a loss of $7.2MM in federal money.
The proposed debt restructuring is eliminated in favor of (my favorite part) finding $43.3MM in "savings" by reducing the statutory balance requirement (again) by - you guessed it! - $43.3MM!
In other words, $79MM in additional cuts made by DOA that they say they can't find yet, $43MM of payments delayed to the 2011-13 budget that will cost us $7MM to execute, and a $43MM raid on the statutory balance requirement.
Man, this would make Jim Doyle blush.
UPDATE: As Jeremy Shown was quick to point out, eliminating the debt refinancing also costs the state about $29.6MM in the next biennium. In other words, between this and the MA shift, the Democrats budget adjustment solution requires another $36.8MM in cuts in the 2011-13 budget. Not sure who won the pass or the kick, but I'm pretty sure Mark Miller wins the punt.

