Posted on 07/31/2007 1:11:11 PM PDT by iceskater
The Commonwealth Institute for Fiscal Analysis says Virginia is facing a $1.2 billion deficit over the next two-year budget cycle. The current budget, by official estimates, is $200 million short.
Institute Executive Director Michael Cassidy says the tax hike in 2004 did help Virginia's long-term outlook. However, since then, Cassidy says lawmakers have cut various taxes, taking away revenue.
Cassidy is not publicly advocating another tax increase to fix the situation. He claims he is just trying to get the debate started. The size of the deficit could be a big problem for Governor Tim Kaine, who wants to spend money to start a Pre-K program.
The General Assembly will pass the state's next two year budget during the 2008 session.
If you can’t balance the budget during the good times, there’s no way you’re going to do it during the bad times.
What? Cut spending?
You speak blasphemy.
Every one of those gubmnt operations need more money then they are currently given. Whether or not they are effective they need more money.
NOw go sit in time out.”cut spending” The horror.
How about cut spending by say 65 percent across the board.
IIRC, a few years ago, retired military folks brought suit against the state because they taxed military retirement pay but not state retiree’s retirement pay.
The state lost and had to refund five years worth of taxes to the military retirees.
Then they started taxing state retirees pay.
Glad I moved away.
And, IIRC, that military retiree tax issue came home to roost during Wilder’s administration. He dealt with that, a bad economic scenario and DIDN’T raise taxes.
Democrats always raise taxes but they do it by cutting the cents per dollar on property taxes, then raise assessments by 40-60% a year.
Then they get the voters to support a quarter of a billion dollar “bonds” each year, and don’t account for the money.
Kaine, doing to Virginia what he did to Richmond, the murder capital of Virginia (and as O’Malley, the former Mayor of Baltimore, the murder capital of Maryland, pledged to do to the state of Maryland).
If you vote for a Democrat, you have got to be crazy.
....stop hand outs to illegals.
I would suggest that Mr. Think Tank start by a real good look into the frozen food chests of all elected officials and bureaucrats.
After that limit the number and amount of checks the State can cut.
Mark Warner’s fault!
lib/dems....never met a tax they could not raise and then spend it faster than it comes in!!!
BTTT for those of us who learned personal responsibility (and knew not to run through the house with scissors)!
We didn't even have "K" when I started school. Started right out in first grade. How did I ever survive?
You had parents (2) willing to take time and responsibility for you.
In the Leftist environment school is a babysitting (and indocrination) program for the now-broken family. It's called Liberation.
According to this report (Va. revenue outlook improves) on the situation in Virginia:
The budget is responding to troubles in the economy.
For example, stagnation in housing sales is spreading from wealthy Northern Virginia to the less pricey Richmond and Hampton Roads markets.
OK, what happened to that multi-$ Billion surplus we had before The Eyebrow took office?
egads! they need to seriously look at cuts in
spending before even suggesting a tax hike.
Now might be a good time for Kaine to raise taxes. The GOP could use a boost in VA. The $2,000 speeding ticket apparently is not enough.
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