By Ken Selvaggi
WAVE 3 Vice President & General Manager
Governor Steve Beshear has his work cut out for him as he starts a second term. His landslide win with a disappointing voter turnout of under 30% shows voter faith that he can continue to manage through the very challenging economic climate experienced through much of his first term.
Jobs certainly are priority one. Kentucky faces the loss of potentially 15,000 more jobs if proposed Department of Defense spending reductions surrounding military equipment cuts become a reality. Unemployment is already pushing 10% in Kentucky.
Further budget cutting will most likely be needed as state revenues backpedal after a promising start to this fiscal year.
Creating new revenue streams will be critical and tax reform essential for the Commonwealth to move forward. Our neighbors in Indiana have weathered the economic storm slightly better. Forging new partnerships with them will also help.
Ultimately, job creation will determine the success of the Governor's second and final term.