Gov. Phil Bredesen is now asking state agencies to cut 20 percent out of their budgets due to a $1 billion deficit. But he knows that will not be close to enough.
Meanwhile on Wall Street, economists are remixing their formulas and coming up with a more dire projection for 2009 economic fortunes. That means Tennessee isn't going to get any better as far as revenue dependence on sales tax, not a personal income tax.
Yet Bredesen still has the gall to look to Washington for help and a new president he told not to come to Tennessee during the 2008 campaign.
Besides deteriorating economic fortunes, Bredesen will find the myth of his competence severely pressed. As for all those saying at least Tennessee does not have a corrupt governor as in Illinois, I'd take that kind anytime over one who has not been honest in public policy decisions geared to hurting those with the least power and ability to defend themselves.
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