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Posted: 11:04 PM Jan 13, 2009
W.Va. Among Only Six States Not Facing Budget Crisis
West Virginia is among only six states nationwide not facing a financial crisis. The 44 others, including Kentucky and Ohio, are trying to deal with the budget blues.
Reporter: Michael Wooten; Associated Press Email Address: michael.wooten@wsaz.com |
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17 Comments 
CHARLESTON, W.Va. (WSAZ) -- West Virginia is among only six states nationwide not facing a financial crisis.
The 44 others, including Kentucky and Ohio, are trying to deal with the budget blues.
"These are very unusual times," Ohio Gov. Ted Strickland said. "We have not seen economic circumstances like these, certainly in my lifetime."
The Buckeye State faces a $1.2 billion dollar shortfall for this year alone. The latest proposal is a familiar one: expanded gambling.
The governor is not on board; instead his administration is tightening the belt.
In Kentucky, meanwhile, the state's general assembly is nearly $500 million in the red. Kentucky Gov. Steve Beshear's suggestion is to raise the cigarette tax from 30 cents a pack to $1, part of a proposal that would bring in $81 million.
Kentucky's and Ohio's struggles could be West Virginia's gain.
"I think we can take advantage of opportunities during a hard time around the nation financially," West Virginia Gov. Joe Manchin said. "There are going to be good businesses looking for a solid place to perform and operate."
So why has West Virginia weathered this financial crisis? Manchin said it's because the state paid down its debt, fixed workers comp and invested in the right priorities.
Experts say West Virginia can boast a budget surplus for one main reason -- because the Mountain State has mountains and, therefore, a lot of coal.
The other five states in the black also are major energy producers.
Latest Comments
Well the State may be financially well but I don't believe the citizen are doing so great. Unless of course you believe working a part-time job without benefits makes one finacially secure.
Why is our state doing pretty well? One of the biggest reasons is our banks played by the rules. When you play by the rules, you reap the rewards.
Thanks Gov Manchin for running our state financially well. Now-- help save all the worker's jobs at Century Aluminum in Ravenswood, WV. They need your help!
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