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When the government starts cutting jobs, the economy is getting scary. Unfortunately, we've hit that point, and Virginia Governor Tim Kaine is laying off 570 state workers to help combat the growing financial crisis.
The layoffs are coupled with a freeze in employee raises, a cut in college funding, and a hiring halt aimed at combating the $973 million budget shortfall this year and the projected $1.5 billion shortfall the following year.
Dips in corporate income and increased unemployment have contributed to a tax revenue decline for the state, and the actions taken by Gov. Kaine undoubtedly predict similar actions across the other 50 states - nearly all of which are suffering from similar problems.
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Instant Loans February 10, 2009 2:34 AM
Recession is hitting consumers and the state governments are now begging for instant payday loans that can help their people who need it because of budget shortfalls. As we all know, the government is against payday loans, but for now it's different. The state government are holding on for their cut of instant payday loans that the stimulus package is promising. Some states are teetering on the edge of disaster, like California, but those coming up short are all in some very serious trouble. Budget cuts are being made as fast as can be, but they are still waiting to get some instant payday loans from Washington.
The most fun government news has ever been...
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