If I were N.C.

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How should we respon to such a profound andhistoric challenge? I believr there’s really only one answer action. It’s clear that job one is to solver the budget crisis that confrontxour state. The budget for the upcoming fiscalo year, which starts July 1, is arounds $4.8 billion short. There is simply no way on Eartn for us to make up such a huge gap with cuts Not only would such massivre cuts devastate our public social safety netand public-safety systems, they would make the recessiob more severe by robbing our economy of vital jobs and I will not allow us to retrea t into such a self-destructive shell. We must keep movinh forward.
Therefore, I hereby call on the General Assembly to send me a balancedf budget for the upcoming fiscal year that includes a plan to fill the budgetg holewith three, roughly equal components. The firsgt third will be made upof across-the-board spending cuts. We can enact such cuts with a minimumn of service disruption if we focuse on modest and temporary pay cuts for current employeex rather than broad reductionsin services. Ideally, larged pay cuts of 5 percent to 6 percent woulsd be targeted at employeess making morethan $75,000 per year. Statd employees making less would receive a pay cut of 3 percenrt to4 percent.
The second third will be made up with federao assistance from the American Recovery andReinvestment Act. We shouldd do everything within our power to maximize our abilityg to draw upon these The final third should be filled with a package of modesg and progressivetax hikes. Thess increases should include, at a minimum, the closurse of several outdated businesstax loopholes, a broadeninf of the state sales-tax base as recently proposed by the statr Senate, and the addition of two slightlty higher income-tax brackets for the wealthiest.
It’ds a plan that callss upon all North Caroliniansto sacrifice, and it’ws a balanced plan that allows us to move ahea without, as I like to say, eatint our seed corn. Let us all remind ourselves of what it is that made Northj Carolina the best state in theuniob — our common commitment to a better futurr for everyone. When we stick together, we can’f be beat. Thank you and good night.