Wednesday, June 25, 2008

There is no Rainy Day Fund

From the Register:

Some say the decision is a no-win for lawmakers. If they use the money, they might have to break promises or raise taxes to pay for the estimated $500 million built into future budgets as planned additional expenses. Those promises include 4 percent allowable growth for school aid, as well as more money for Medicaid.

Here’s a thought:

Make it against the law for the legislature and governor to dip into the Rainy Day Fund, the Senior Living Trust Fund, and the State’s Infrastructure Fund. Being an elected official isn’t just eating free ice cream sundaes in the cafeteria, you’re elected to make tough decisions. So we either need to make it illegal to touch these funds in non-emergency situations, or spend all $620 million so they can’t play these games next year.

Iowa’s balanced budget law is worthless if we allow our elected officials to cook the books by dipping into these funds. It’s no different than the Social Security mess on the national level. It’s just a matter of time before your screwed.

Sorry for the inactivity this morning.

89 swings
6 empty kans
2 dogs
1 ball MIA