Is the gravy train coming to the end of the track?
By: Loudoun County Dem
Published On: 11/14/2006 12:53:17 PM
According to the WaPo article 'Legislators Told That Surplus Won't Last', Virginia's budget surplus may be coming to an end. The current situation is in good shape now but the cooling of the housing market in NoVA and a decrease in Federal procurement spending in the region will begin to impact State revenues.
The report, by the House Appropriations Committee staff, estimates that the state will have $600 million in additional funds to spend this year and next, but lawmakers should spend it wisely because the surplus might not last long, said Robert P. Vaughn, the committee's staff director.
If we need any indication of the effect of the republican 'Robin Hood in reverse' class warfare on the future of the commonwealth we get it in the very next paragraph:
Vaughn noted that part of the surplus might have to be used to plug a $100 million hole in the fiscal 2008 budget that is a result of the lawmakers' decision to repeal Virginia's estate tax.
The fact that we are facing a future in which the republican majorities (especially in the House of Delegates) have squandered the ability to 'make hay while the sun shines' is summarized in this passage:
The region's wealth has become part of a bitter feud in Richmond over how to pay for transportation. Many lawmakers in Northern Virginia say the area is not getting its fair share of money needed to pay for new highways and rail lines. The Northern Virginia Transportation Authority issued a plan identifying more than $17 billion in highway and transit needs -- a figure that would require the state to spend nearly $700 million annually over the next 25 years.
In September, the House and Senate ended a special session without agreeing how to raise revenue for transportation, which has been a priority of Gov. Timothy M. Kaine (D).
We need to maintain the momentum we currently enjoy electorally by turning out as many repubs from the House of Delegates and State Senate as possible before they do to Virginia's budget what they have done to the Federal budget (and what they did in the 90's under Allen and Gilmore)...
My 2-ó
Comments
Fiscal responsibility...not a VA. Republican priority (Silver Fox - 11/14/2006 4:38:53 PM)
Watch what they do, not what they say. Republicans like to trumpet that they are the party of fiscial responsibility but they nearly wrecked our prized municipal bond rating and then the state party viciously punished those few farseeing moderate Republicans who voted to take the painful but necessary steps to make sure we kept our rating. I have direct experience with that here in Sully District when the moderate Republican Delegate was punished and ousted, with state party blessings, in the Repub primary and a religious radical wingnut was nominated in his place. Of course that actually worked to our good, since we got a marvelous Democratic Delegate in Chuck Caputo but it just goes to show that the state Republicans don't have the fiscal health of Virginia, both northern and southern, anywhere on their priority list. They've gotta go!!!
One of the themes of (Eric - 11/14/2006 4:56:41 PM)
this year's federal election was fiscal responsibility. It wasn't number 1, but many voters don't like the way Republicans have taken a cut taxes and spend approach to leadership. Sure, it feels real good, but voters are beginning to wise up and they know someone is going to have to pay.
VA looks good now, but when the economy tightens up those irresponsible fiscal policies sure are going to catch up.
How successful will (madgranny - 11/14/2006 5:18:40 PM)
the rethugs be at trying to shift the blame to the Democratic Governor, Tim Kaine?
We Ought to Point Out to All the Republican (Catzmaw - 11/14/2006 6:11:28 PM)
Critics likely to come out of the walls against Kaine when the surplus starts sliding away that we lost the opportunity to maximize Virginia's attractiveness to the high-tech industry by alienating a substantial portion of the people who work in it with our stupid constitutional amendment. Why should they come here when they're far more welcome in Maryland and DC?
One strategy (DukieDem - 11/14/2006 6:44:47 PM)
In one debate, Senator-elect Webb (!) made the case that Virginia is not getting back its fair share of FEDERAL tax dollars, and that the state could make a compelling case for getting more than their share because Nova's traffic problems are largely caused by federal government policies.
Now that we have a Senator more focused on Interstate traffic than Iowa, maybe we can get some help on the federal level.