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Brookings Institution
Escaping the deficit trap
Escaping the deficit trap

Governor-elect Larry Hogan didn't even have a chance to finish his thank-you tour before getting a nasty budget surprise: The state's deficit for the coming year has jumped from $400 million to $600 million, and it's on a course to hit $1 billion by 2020. To make matters worse, the state's job growth over the last year was one of the five lowest in the country. It's a tough time to take the helm. The governor-elect is getting advice that slashing taxes will create jobs, but that didn't work for Kansas Gov. Sam Brownback. And after his anti-tax campaign, Mr. Hogan certainly can't raise taxes to plug the gap. What he most needs is a plan to boost economic...