Report: Budget cuts threaten 10,000 jobs
A report from an Augusta-based think tank says as many as 10,000 jobs could be lost as part of the governor's proposed $438 million in budget cuts.
The Maine Center for Economic Policy said Gov. John Baldacci's proposed $275 million in cuts to health care and education funding will mean a loss of 7,000-10,000 jobs in both the public and private sectors. The report says that 35.2 jobs will be lost for every $1 million cut in health care spending, and 30.2 jobs lost for every $1 million cut in education spending.
But the Portland-based think tank Maine Heritage Policy Center disagrees with the report, saying the job numbers are inflated, according to the Maine Public Broadcasting Network. Scott Moody, chief economist for the center, told MPBN increased state spending has not led to an increased economic benefit.
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