"We're building a budget assuming everybody works their problems out in the best interest of the nation." That's how Stan Marshburn, outgoing director of Washington State's Office of Financial Management is planning for the fiscal cliff.
He says we're likely to suffer either way. If we go over the cliff, we can expect 50 percent cut to state military spending. To avoid the cliff, federal lawmakers might agree to reduce Medicaid spending -- another precious source of federal money.
Marshburn tells Ross his biggest concern is consumer confidence, since Washington gets so much of its money from sales tax. He says reduced consumer spending could impact Washington's economy 10 times more than the actual fiscal cliff itself.
Sen. Ed Murray, left, waves with his partner Michael Shiosaki as Rep. Jaime Pedersen, right, stands with his partner Eric Cochran Pedersen at an election night party for proponents of Referendum 74 on Tuesday, Nov. 6, 2012, in Seattle.
State Senator Ed Murray is the new majority leader of the Washington state senate. But he faces some tough challenges, including a $900 million budget hole, a Supreme Court ruling that requires full funding for basic K-12 education and a possible rebellion by conservative Democrats. David Hyde sits down with State Senator Ed Murray and asks, What's next?
The Seattle City Council is voting on the city budget next Monday. They’ve made some changes in Mayor McGinn’s original proposal. Ross Reynolds talks with Seattle Mayor Mike McGinn about the upcoming budget vote.
The Mayor of Kent, Washington is proposing another round of layoffs and new taxes to bridge a $2 million budget shortfall. Mayor Suzette Cooke presented her 2013-2014 budget to the City Council Tuesday. In her opening speech, Mayor Cooke called her budget “as ugly as the economic times we face.”
Washington Superintendent of Public Instruction Randy Dorn has asked for an additional $4.1 billion for basic education in his biennial budget proposal, a 39 percent increase compared to the current budget. Dorn says that’s what it’ll take for the state Legislature to fulfill its constitutional duty to fully fund K-12 education.