budget

Michael Barone, AEI:  "I've got a... proposal for political columnists and reporters. Let's ban the verbs 'bicker' and 'squabble'…. You've seen those verbs often if you've been reading about the budget struggles between the Republican-controlled House, the Democratic-majority Senate, and the strangely detached Obama White House.

North Texas Tollway are cutting spending and considering higher toll rates to cope with a major drop in traffic and revenue. A statement issued this week says their traffic and revenue consultants are forecasting a 10.91% drop in toll revenues this year compared to 2008. By our calculation that would mean an approx $27m drop to $218m for 2009 v $245m in 2008.

The Massachusetts Turnpike board last week deferred decisions on a budget for the next financial year amid fears that its deteriorating financial situation might cause its credit rating to be downgraded to junk bond status.