May 18, 2009 - 11:11 am
News Feed: Ohio

Editorial: Truth time

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The state is looking at a nearly $1 billion shortfall in its current budget, which ends in June. And that will have carryover effects in the subsequent two-year budget in which the state will have to raise or cut as much as $8 billion.

Barring an instantaneous economic recovery that floods the state with tax revenue beyond all estimates, lawmakers have no other options.

So Gov. Ted Strickland's statement Tuesday that he won't rule out a tax increase was a glimmer of hope that fiscal reality yet might have a seat at the table when Ohio's 2010-11 budget is hammered out.

Up to now, state leaders have been unable to bring themselves to acknowledge the possibility of raising taxes.

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