Expect less U.S. funding, two officials say
BY MICHAEL MCNUTT NewsOK.com
Sunday, December 09, 2012
12/09/12 at 5:49 AM
OKLAHOMA CITY - Even if a deal is reached on the looming fiscal cliff, Oklahoma will have to start weaning itself from federal dollars because any agreement likely would result in reduced federal spending to the states, the state's two top financial officials say.
"Oklahoma has to get ready for a federal pullback in spending," state Treasurer Ken Miller said. "We have got to see the United States get its spending under control and back to a sustainable level so that our taxes will remain low and incentivize production and work.
"Oklahoma is going to have to get ready for a different federal government, one that sends less direct aid to the states," said Miller, who applauded recent efforts of House Speaker-elect T.W. Shannon, R-Lawton, to look at ways the state will face reductions in federal assistance. "We have to prepare as a state for reduced federal aid."
State Finance Secretary Preston Doerflinger said that appears to be a certainty, even if an agreement is reached to avoid the fiscal cliff.
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State Treasurer Ken Miller (left) and state Finance Secretary Preston Doerflinger: "Oklahoma is going to have to get ready for a different federal government, one that sends less direct aid to the states," Miller said. "We have to prepare as a state for reduced federal aid." Doerflinger said, "I'm probably more concerned about the ripple effects across our economy over possible defense spending cuts because of our big military presence."