Franchot to support O'Malley's cuts, but not his slots

Comptroller Peter Franchot (D-Takoma Park) says he'll support Gov. Martin O'Malley's (D-Baltimore) proposed budget cuts at tomorrow's Board of Public Works meeting, but insists he still differs with the governor on November's slots referendum.

"At this point, it is clear we are in the midst of the most serious economic situation we have seen since the Great Depression, and we have no choice but to tighten our belts and reign in State spending," Franchot said in a statement.

O'Malley will be proposing roughly $400 million worth of budget cuts at tomorrow's Board of Public works meeting, according to Shaun Adamec, a press secretary for O'Malley. Adamec says the governor has still not ruled out a furlough program since the state's deficit directly relates to the national economy.

O'Malley has supported November's controversial slots referendum, which would allow no more than 15,000 slot machines at five separate locations across the state. Franchot, however, argues slots will do nothing to solve the state's fiscal woes.

"Washington just bailed out Wall Street ... now some in Annapolis want to bailout gambling CEOs," Franchot said. "That's not the direction I think the people of Maryland want to take, and it is certainly not the direction I want to take."

Adamec argues that it's no bailout when $660 million of the revenue is going to the education trust fund.

The Board of Public works, which is expected to approve the new cuts tomorrow, consists of the Governor, Controller and Treasurer.