Fitch, Moody’s Ratings, and S&P Global Ratings recently reaffirmed Maryland’s coveted triple-A credit rating. However, Moody’s downgraded the state’s outlook from stable to “negative,” citing significant concerns about looming structural deficits due to Annapolis’ out-of-control education spending. And while education spending soars, test scores are going in the wrong direction.
“The negative outlook incorporates difficulties Maryland will face to achieve balanced financial operations in coming years without sacrificing service delivery goals or adding to the weight of the state government’s burden on individual and corporate taxpayers,” Moody’s wrote in the report last month. This is the first time the credit rating agency has issued a negative outlook for the state since 2011, several years after the GFC meltdown.
A looming fiscal cliff is primarily driven by edu programs, including the Blueprint for Maryland’s Future education reforms. When the reform was passed, the genius progressive lawmakers in Annapolis did not pass a funding mechanism.
“It’s a self-created hole,” Republican State Senator Justin Ready told investigative journalist Chris Papst of Fox45 News’ Project Baltimore late last month, adding, “I’m disappointed but not surprised that we were downgraded to negative.”
Thanks to the paperback-writer Mooron for making this worse.
Thanks to the RINO Hogan for endorsing him.
As long as we continue to elect these dumbocrats, it will continue to get worse…at the coty, county, state, and federal levels!
Well it seems that the democrats that run the state of Maryland wants to run it like the democrats in California.
What ever California does, Maryland seems to copy them. California under the rule of Newsom is $47 billion in the hole. Before Moore, Maryland had a budget surplus and now the state is in a budget deficit.
And there seems to be some people that want Newsom or Moore to become the next president.
If you can’t seem to manage your own state, what makes you think that they can manage a whole country ?
The ‘Blueprint for Education” / Kirwin is an economic disaster barreling right at all of us. The answer will be to raise taxes, just like they always do, and we, the taxpayers pay for their lack of foresight and planning.
secession from the demonicrat state of maryland is the only answer! isnt it funny how the dumbocrats in annapolis want folks in western maryland and on the eastern shore to get their permission to secede? our forefathers probably should have asked King George for his permission to secede, then we wouldnt have needed a revolution!