"Right pocket, Left pocket, it's all the same pair of pants... or is it?

Robin's Commentary--

I found a couple of headlines that I wanted to share about Oregon's budget problems...

Press Release, May 18,2009 from the Oregon Legislative Assembly:

Ways and Means Co-Chairs Release Plan to Bridge $4.2 Billion Budget Gap
"The budget includes $2 billion in cuts from the essential budget level. The co-chairs budget also utilizes federal stimulus dollars ($399 million from the state stabilization fund and $542 dedicated to Medicaid), state reserve funds ($361), and $800 million in new revenue to close the state’s $4.2 billion budget hole."

Then there is this press release from the Oregon House Republicans May 26, 2009:

STATE AGENCIES HAVE $4.9 BILLION IN ENDING FUND BALANCES;REPUBLICANS SAY IT’S TIME TO GET BACK TO BASICS
"State agencies have $4.9 billion in combined ending fund balances, according to the 2008 Comprehensive Annual Financial Report released by the Governor’s Office. The state claims that of this amount, 71.5 percent of the money is available for spending at the state’s discretion. "

Okay, if I got this right, on one side their saying that there is a deficit of $4.2 billion and on the other side they're saying that there is a surplus of $4.9 billion "available for spending at the states discretion".

Okay I may not be an economist, but...