Tillis takes questionsPosted: January 24, 2011
Incoming NC House speaker Thom Tillis answered questions from Charlotte-area residents in a column published in yesterday’s Charlotte Observer:
Q: I have heard rumblings that North Carolina is on the verge of bankruptcy. Is this true or false? And, what are the plans to avoid this scenario?
Tillis: Technically, a state is not authorized to file or declare bankruptcy. So, any "rumblings" to that effect are false. Having said that, the budgetary condition of state government is not good. Despite continually climbing tax rates, state revenues have proved no match for the past spending habits in Raleigh. This trend is unsustainable; North Carolina needs a course correction.
To prevent North Carolina’s economic climate from deteriorating further and to begin to balance our budget, we must rein in state spending. We will find ways to save, not spend, taxpayer dollars. When spending occurs, it will be done efficiently and it will be focused on the core mission of government.