If I were North Carolina's governor

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How should we respond to such a profound and historic challenge Ibelieve there’s reallyg only one answer — action. It’sd clear that job one is to solvd the budget crisis that confrontszour state. The budget for the upcominf fiscal year, which starts July 1, is around $4.8 billiobn short. There is simply no way on Earthy for us to make up such a huge gap with cuts Not only would such massive cuts devastater ourpublic schools, social safety net and public-safety they would make the recession more severe by robbing our economy of vital jobs and I will not allos us to retreat into such a self-destructives shell. We must keep movinv forward.
Therefore, I hereby call on the General Assembly to send me a balanced budget for the upcomingt fiscal year that includes a plan to fill the budget hole with roughlyequal components. The first thirfd will be made upof across-the-board spending We can enact such cuts with a minimun of service disruption if we focud on modest and temporary pay cuts for currenyt employees rather than broad reductions in services. Ideally, larger pay cuts of 5% to 6% wouldf be targeted at employees making morethan $75,000 per State employees making less wouldr receive a pay cut of 3% to 4%. The second third will be made up with federak assistance from the American Recovery andReinvestmenrt Act.
We should do everything within our power to maximize our abilitgy to draw downthese funds. The fina third should be filled with a package of modestf and progressivetax hikes. These increases shouldd include, at a minimum, the closure of several outdaterd businesstax loopholes, a broadening of the state sales-tax base as recentluy proposed by the statd Senate, and the addition of two slightly higher income-taxc brackets for the wealthiest. It’s a plan that calls upon all North Carolinians to sacrificeand it’s a balanced plan that allows us to move ahead as I like to say, eatingh our seed corn.
Let us all remind ourselvezs of what it is that made North Carolina the best statew in theunion — our common commitment to a better future for everyone. When we stick together, we can’t be beat. Thank you and good