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Ohio's rainy-day fund grows by $235M



Published: Tue, July 3, 2012 @ 1:55 p.m.

COLUMBUS — Gov. John Kasich and his budget director had good news and bad news today, the day after the start of the state's new fiscal year.

The good: The administration added another $235 million to the the state's rainy-day fund, bringing the balance to about $482 million. That compares to less than a dollar when Kasich took office last year.

And the bad: Administration officials are estimating $1 billion in new costs, anticipated as a result of last week's U.S. Supreme Court validation of the federal Affordable Care Act, as Ohioans currently eligible for subsidized health care are added to the Medicaid roles.

But Kasich told reporters in a conference call today that he has no intention of dipping into the budget stabilization funds to pay for increase Medicaid or other costs.

For the complete story, read Wednesday's Vindicator and Vindy.com


Comments

1ytownredux(117 comments)posted 2 years, 2 months ago

Kasich, I will give you credit where it's due if those numbers are accurate. But guess what people, it's been raining for over 60 years as health care has gotten worse and worse, if we can get everyone covered for just 4 times the rainy day fund its worth it.

I hate how the Repubs are whining about 1-2 trillion over 10 years to cover health care, but they put us in a nonsense war that has cost that much in less time and havent blinked an eye.

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2LtMacGowan(643 comments)posted 2 years, 2 months ago

Great job with S.B. 5 governor. I really enjoyed voting to repeal your "signature" bill. Shame we lost Strickland for a Scott Walker clone.

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3Boardman120(82 comments)posted 2 years, 2 months ago

The Affordable Care Act, aka "Obamacare" is requiring the state of Ohio to shift $950 million dollars from Medicare to fund the increase in Medicaid.

In other words, take from those who have worked and paid in their entire adult, taxpaying lives, to give to the idle and lazy. Who overwhelmingly vote Democrat, when bothered to vote.

I know, I know. It's all Bush's fault.

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4AnotherAverageCitizen(1174 comments)posted 2 years, 2 months ago

Kasich 2 year budget was HIGHER then the previous 2 year budget under Strickland. Less people are working now so less money is coming into the state funds. Kasicks answer, quit giving money to local school districts. Kasick not only believes in "rob Peter to pay Paul" what he has done is ""rob Peter, Mary, Robert, Ryan, nancy, and make Dick Kasick look good"".

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