Everything That is Wrong With the State Budget, Part 3
In my last two comments on the state budget, I pointed out: (1) the state budget is based on highly volatile and unstable revenue sources; and (2) the increase in spending in this budget will lead to significant negative future year budget impacts, that is, we are not far from a budget so unbalanced that it will make the budget crises of the past look like a walk in the park. We will then be told that tax increases are necessary to solve the budget problems, and that it would be “irresponsible” to enact the tax increases. As one of my colleagues noted in the budget crisis that occurred at the turn of the century, “we call them ‘tax and spend’ liberals, but they are really ‘spend and tax’ liberals.” First they spend everything they can put their hands on, then, when the budget collapses from the weight of their spending, they claim they have to raise taxes. Today is when the mistake of overspending occurs, tomorrow is when they use the “excuse” of a budget crisis to raise your taxes. Note this now, in one, two or three years, when the budget collapses, Republicans will be attacked for not… Read More