O’Malley’s Oil Disaster Fund Raid
Today Governor O’Malley convened a panel of experts to discuss the possibility of the Gulf of Mexico Oil spill reaching Maryland’s shores. In a statement O’Malley was quoted saying, “While science tells us that any impact along Maryland’s coast is highly unlikely, it’s our obligation to prepare for the worst.” If Governor O’Malley believes it is his obligation to be prepared for the worst, why did he raid Maryland’s Oil Disaster Fund to paper over his record deficit?
According to the Budget Reconciliation & Financing Act of 2010, Governor O’Malley sought to raid $2.2 million from Maryland’s Oil Disaster Clean Up Fund, nearly half the anticipated year-end fund balance of $4.8 million, and move the money to the State’s General Fund to help balance the budget. Ultimately, the Oil Disaster Clean Up Fund was raided by a million dollars or roughly 21 percent.