Sen. Kathleen Vinehout: New state budget reaches historic debt levels

[hue]

http://host.madison.com/ct/news/opinion/column/sen-kathleen-vinehout-new-state-budget-reaches-historic-debt-levels/article_3ad7b748-74f8-5da7-9519-45d5ddd8da34.html



"Two years ago, Wisconsin made tough choices,” wrote Robert from Mondovi. “The deficit was eliminated, costs were controlled and Wisconsin was back on the track to prosperity.”

The Buffalo County man wanted “relief for the hardworking people of Wisconsin.”

With that in mind, I took a close look at state finances and discovered problems. I talked with the Legislative Fiscal Bureau analysts and read their papers. I sharpened my pencil and considered options.

The recently passed $70 billion budget spends $4 billion more than the last budget. It is estimated to create a half-billion dollar deficit going into the next budget, even though we started with more money. The economy is improving. Tax revenues are up — a little less than $1.5 billion.

Lawmakers who voted for the budget (I was not among them) argued some of the new revenue should be returned to taxpayers, so tax rates were changed. Average taxpayers making $45,000 a year will save about $84 in 2014 — about $1.60 a week.

But this budget reaches historic debt levels. As debt increases, more tax dollars go to make debt payments — sort of like using your paycheck to pay the credit card bill.

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We need to get this word out starting now!!

[midnight]

1. Two years ago, Wisconsin was fourth in the country for creating jobs. Two years ago Wisconsin

was left with a surplus...



February 18, 2011 08:00 AM
Republican Governor Deliberately Spent Wisconsin Surplus To Pick Fight With Unions

http://crooksandliars.com/susie-madrak/republican-governor-deliberately-spen