It’s been said money is the root of all evil. Not really. Real evil, at least in government, is spending money you don’t have. Here in West Virginia, our constitution doesn’t allow us to do that — technically. There’s a way around it, to which we’ll get in a moment. Mountain State legislators are not permitted to approve budgets in excess of what the governor tells them is expected to be collected during the coming year. As a result, we have nothing comparable to the national debt. We do owe money for bonds such as those sold to improve highways, but revenue streams are in place to pay them off. There’s no comparable restraint in the U.S. Constitution. That’s why we have a national debt of $21.7 trillion — about $177,000 for each American taxpayer. Give credit to our state’s founders, then, for insisting that budgets be balanced every year. And give credit to state legislators, both Republican and Democrat, for trying hard — mostly — to spend only what they expected to take in. Compare the federal budget to West Virginia’s general revenue fund budget: Ten years ago, the federal government spent $3.517 trillion (about $1.3 trillion more than… Read full this story
- The doctor is in: White House physician nominated to lead VA
- No. 18 Va. Tech stages epic comeback, tops Arkansas 35-24 (Dec 29, 2016)
- No. 18 Va Tech women roll to 76-68 win over North Carolina (Jan 2, 2017)
- Gorecki, Brown lead No. 15 Duke women past Va. Tech 86-75
- NCAA women's lacrosse roundup: Tech, U.Va. win; UR falls
- No room at the infield: Yankees forced to spend night in Dulles...
- Colleges spend fortunes on lavish athletic facilities
- New Mexico AD stepping down amid spending scrutiny
- New Mexico AD resigning amid improper spending scandal
- Owings, Diamondbacks erase 3-run deficit to beat Giants 8-6 (Apr 05, 2017)
Deficit Spending in W.Va. have 299 words, post on www.theintelligencer.net at November 3, 2018. This is cached page on VietMaz. If you want remove this page, please contact us.