May 11, 2004
THE REAL BUDGET PROBLEM:
Surplus greets N.C. legislators: General Assembly opens session to good fiscal news (SHARIF DURHAMS, 5/10/04, Charlotte.com)
The General Assembly building opened for business Monday amid ceremony, protest and good news for lawmakers. For the first time in about five years, the state looks like it will have a budget surplus.
What to do with the surpluses... Posted by Orrin Judd at May 11, 2004 8:01 AM
There's only two ways to go. Return the surplus to the taxpayers, or better yet, establish an investment fund (real investments, that is, not the phony baloney way politicians misuse the word) and move towards a system of budgeting where the state does not live hand to mouth.
Posted by: M.Murcek at May 11, 2004 8:10 AMThe states will spend these surpluses and when the economy goes down again they will be calling for taxes to meet their budget shortfalls. The cycle of life continues.
Posted by: AWW at May 11, 2004 8:32 AMAWW --
And so that when the economy goes down again, and clearer minds decide to stimulate it tax cuts (not restraint it more with tax hikes), the tax cuts will have to be debated in the context of "deficits as far as the eye can see..." Republicans at all levels are going to have to start confronting the spending monster now, when they can.
Posted by: MG at May 11, 2004 8:50 AMBuy votes? Encourage dependence? Entrench themselves and their most supportive bureaucracies with taxpayer funded benefits?
Posted by: Tom Corcoran at May 11, 2004 12:23 PM