[Azeem]

“Why not collect exactly what you need and no more?”

You never want the state to have $0 in the bank account. That is how you run deficits. Revenue streams are not consistent. They can plan all they want but in reality, the numbers can be off. This time, they were 40% off but in a good way.

Indiana, under Mitch Daniels, has tried to keep $1 billion in reserve. A few years ago, when the economy first turned sour, the Dems wanted Daniels to use that extra $1 billion immediately. He said no and we are lucky he did. It’s been useful in some of the state budget shortfalls the last two years.

[The Louiswu]

"They can plan all they want but in reality, the numbers can be off. This time, they were 40%(off)"

How can that be? If my accountant is off by 40% - I fire the jerk and get a new accountant.

In this day and age of up-to-the minute electronic accounting and all the folks that are supposed to know what is going on with our tax dollars, how can state government just "be off" by 40%? If I am off by 40% at the grocery store, I have to put something back on the shelf, I just don't get to tell the clerk that I will just hold this can of beans at my house, without paying for it, just in case...