Mismanaged Maryland

Mismanaged Maryland

Despite talk of reforms and budget cuts, Annapolis dabbles in excessive borrowing, noncompetitive projects and risky investments

March 11, 2013 | By George Liebmann

There is a sharp disconnect between the image and reality of the O'Malley administration's fiscal policies. The image features pension reforms, reduced structural deficits, a rainy day fund, and protection of programs. The reality includes deferred maintenance, transfer of costs to local governments, "Medicaid cuts" that shift costs to hospitals and the privately insured, revenue bond financing for core functions, failure to curb pensions and health benefits, raids on open space and Injured Workers' Insurance Fund revenues, over-reliance on gambling (both literally and within the state's pension funds), and set-asides for public employee and construction unions and politically engaged businesses and investment bankers — payoffs funded by kicking the can down the road.... http://articles.baltimoresun.com/2013-03-11/news/bs-ed-state-finances-20130311_1_pension-system-pension-fund-school-construction

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