How much panic is enough?

The leaders of Utah's Legislature say that the state's revenues are decaying so fast due to the economic recession that the governor should call a special session to cut spending again. The Legislature already has done that once, in September.

But Gov. Jon Huntsman says a special session is not necessary because the new Legislature is set to convene Jan. 26. That will be soon enough, he says, to cut spending again in the current year's budget, which closes on June 30, if the need arises.

The leaders of both the House and the Senate have asked the governor for an immediate special session, and we can see some wisdom in their thinking. After all, if you believe that your current spending level is not sustainable, the sooner you make additional cuts, the sooner you stop digging yourself deeper into the hole.

But we suspect that the governor fears the Legislature may cut too deeply, with drastic consequences for social services and state employment. Taking an ax to spending when a scalpel will do would only make the recession worse, and could have devastating consequences for the poor. Cuts in Medicaid, the federal-state program that provides health care to the needy, is just one example.

If that is indeed the governor's thinking, we share his fears.

However, the state's deteriorating tax revenues are not the only variable in play. Gov. Huntsman is convinced that President-elect Barack Obama will press forward immediately next month with a stimulus plan that will provide federal aid to the states to rebuild roads, bridges and schools. Governors also are asking Washington for emergency Medicaid funding.

If the new Democratic president and a new Congress with a stronger Democratic majority can deliver that relief to Utah by June 30, that could make the state's budget predicament less dire. But admittedly, that's not a sure thing.

Struggles between a governor and legislature over special sessions to cut budgets are nothing new in Utah. Mike Leavitt and the Legislature fought similar skirmishes in 2001 during the last recession. The governor refused to call a special session late in the calendar year, but in the end, the state's budget was balanced.

We thought Leavitt was wrong then, but we think Huntsman is right now. The difference is the probability of federal intervention.