COVID recession has not blown a hole in NC budget
John Hood
RALEIGH Since the beginning of the COVID-19 recession in March, North Carolina policymakers have been watching government revenues and expenditures carefully. How big a hole would the economic downturn poke in the state budget? Would cash-strapped localities come begging for aid? Would lawmakers feel compelled to raise taxes or cut spending drastically to balance the books?
While we have no conclusive answers, the recent report from the Office of the State Controller strengthens the case of the optimists, not the pessimists. North Carolina’s finances are strong. There is no gaping budget hole.
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RALEIGH — When U.S. Sen. Thom Tillis narrowly won reelection against Cal Cunningham, the two candidates collectively had spent $78 million. That’s a large number. But it was dwarfed by