Our Lead Story on Falling State Tax Revenues? Never Mind
"State lawmakers across the country, their coffers unexpectedly full of cash, have been handing out tax cuts, spending money on fixing roads, schools and public buildings, and socking something away for less fruitful years," Jennifer Steinhauer reported in Monday's "States Finding Fiscal Surprise: A Cash Surplus."
As Slate's "Today's Papers" column noticed, it must have come as a surprise to the New York Times as well, given that a lead story in the paper two months ago reported just the opposite.
Abby Goodnough's April 8 story, "Housing Slump Pinches States in Pocketbook," began: "State tax revenues around the country are growing far more slowly this year and in some cases falling below projections, a result of the housing market slowdown that has curbed voracious spending on real estate, building materials, furniture and other items. Nowhere is the downturn more apparent than in Florida, where tax revenue is projected to drop this year for the first time since the energy crisis of the 1970s." Goodnough also predicted Florida would have "$303 million less than anticipated for its $70 billion budget."
So, how did Florida end up doing? Take it away, Slate: "Florida, the NYT now reports, raked in nearly $2.7 billion more than it expected, a 9 percent surplus."
The Times made no reference to its previous discredited reporting.
