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Hood not optimistic economy will turn...

Hood not optimistic economy will turn around soon

By: Magnolia Tribune - September 16, 2009

Hood policing ‘Wild West’ Internet

Hood also addressed the state’s current budget crunch. A continued downturn in tax collections recently resulted in Gov. Haley Barbour ordering $172 million in budget cuts, most of it from education.

Hood, a Democrat, said he would fault Barbour for not supporting a cigarette tax hike years ago, which could have mitigated the present financial crisis. After years of opposing the idea, the Republican governor signed a bill earlier this year that ups the cigarette tax by 50 cents per pack.

“Now that we’re in this situation, we have no choice but to cut,” Hood said.

The attorney general said it is regrettable, however, for education to take the brunt of the spending reductions. Reducing what the state is investing in its children, Hood said, cheats everyone.

Education “is our best economic development tool, bar none,” he said.

Hood was not optimistic, though, that the economy will turn around anytime soon.

“It’s going to be really tough” for at least the next two years, he said.

Tim Kalich
Greenwood Commonwealth
9/15/9

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Magnolia Tribune

This article was produced by Magnolia Tribune staff.