Two parties, two entirely different perspectives.
"That budget is balanced and we have almost 600 hundred million dollars in reserves," said state treasurer Michael Fitzgerald at a press conference Thuirsday.
"The reality is Iowa has a huge problem," said Iowa republican party executive director Jeff Boeyink, "Its time for leaders to step up and deal with it."
Both sides agree by September the state's deficit will be at least 58 million dollars for fiscal year 2009 which ended on Tuesday; what's being debated is how much that number could grow.
"We'll do what it takes to maintain a balanced budget in the future," said IA Gov Chet Culver.
The Revenue Estimating Conference puts the shortfall around 58 million dollars. Governor Culver and fellow democrats agree.
"It's based on 99 percent of what the revenue estimating committee says and the revenue estimating committee has a good track record," said Fitzgerald.
Republicans strongly oppose.
"His failure to understand that we really do have a serious debt crisis in this state and his unwillingness to deal with it today only means the resolution to solve this problem down the road is going to be that much more difficult to swallow," said Boeyink.
The bi-partisan Legislative Services Agency feels the number will be around 161 million
"Basically we disagree because we feel they're making assumptions that are premature, that they're basing that number on projections that are not accurate," said Culver.
The sharp contrast in predictions comes when comparing school infrastructure refunds
"we believe there is a difference in the methodology between our figures," said state budget director Dick Oshlo, "And what the fiscal bureau has projected in the terms of refunds."
Governor culver announced he has the authority to cover a gap up of up to 50 million dollars by using cash reserves without calling a special session, meanwhile Fitzgerald hyped the states bond rating.
"I was with the team that went to the rating agencies on wall street and asked them how are we doing? Will you rate us? Tell us what you think about the state of Iowa, and we got the gold star rating, triple A for the state of Iowa," said Fitzgerald.
"I think its interesting they want to tout the credit rating as some example of the fiscal soundness in the state. It'd be like me going home to my wife and saying honey we're out of money in our check book, I just took the last 100 dollars out of our saving account but don't worry about it, we got a great credit rating and I can always borrow more money," said Boeyink.
"That budget is balanced and we have almost 600 hundred million dollars in reserves," said state treasurer Michael Fitzgerald at a press conference Thuirsday.
"The reality is Iowa has a huge problem," said Iowa republican party executive director Jeff Boeyink, "Its time for leaders to step up and deal with it."
Both sides agree by September the state's deficit will be at least 58 million dollars for fiscal year 2009 which ended on Tuesday; what's being debated is how much that number could grow.
"We'll do what it takes to maintain a balanced budget in the future," said IA Gov Chet Culver.
The Revenue Estimating Conference puts the shortfall around 58 million dollars. Governor Culver and fellow democrats agree.
"It's based on 99 percent of what the revenue estimating committee says and the revenue estimating committee has a good track record," said Fitzgerald.
Republicans strongly oppose.
"His failure to understand that we really do have a serious debt crisis in this state and his unwillingness to deal with it today only means the resolution to solve this problem down the road is going to be that much more difficult to swallow," said Boeyink.
The bi-partisan Legislative Services Agency feels the number will be around 161 million
"Basically we disagree because we feel they're making assumptions that are premature, that they're basing that number on projections that are not accurate," said Culver.
The sharp contrast in predictions comes when comparing school infrastructure refunds
"we believe there is a difference in the methodology between our figures," said state budget director Dick Oshlo, "And what the fiscal bureau has projected in the terms of refunds."
Governor culver announced he has the authority to cover a gap up of up to 50 million dollars by using cash reserves without calling a special session, meanwhile Fitzgerald hyped the states bond rating.
"I was with the team that went to the rating agencies on wall street and asked them how are we doing? Will you rate us? Tell us what you think about the state of Iowa, and we got the gold star rating, triple A for the state of Iowa," said Fitzgerald.
"I think its interesting they want to tout the credit rating as some example of the fiscal soundness in the state. It'd be like me going home to my wife and saying honey we're out of money in our check book, I just took the last 100 dollars out of our saving account but don't worry about it, we got a great credit rating and I can always borrow more money," said Boeyink.
