Posted by Congressman Doug LaMalfa at 12:00 am on Aug 11, 2008 Comments Off on Nope
No pressure here to raise taxes in this years
budget.I amfirm on this point as is our
caucus.
We seek a true spending limitation so we don’t keep doing this
everytime the state economy and subsequently, tax revenues are
down. The economy and most other things [global
temperature]run in something called
cycles. We cannot always count on
high revenue to sustain year over year new spending. The
rainy day fund, which should really be called a drought
fund is an important tool to help in budget drought
years. However, we won’t see many deposits into such a fund
as rainy day/high revenueyears are less likely without a
spending limitation on budget spending.
As it is, I don’t see howwe will see the type of excess
revenue to sweep into the "drought fund" fora while.
Not this year, not next, and probably not 3 years out. Which
makes the chatter about a rainy day/drought fund as this years
bigfix, bogus. It’s not a fix without a spending limit.
It’s as simple as that.
If you want to prolonga stale economy, go ahead and raise
taxes to… Read More