Home Virginia Politics ProgressVA Blasts “Borrowing Bob’s” Budgetary Big Lie

ProgressVA Blasts “Borrowing Bob’s” Budgetary Big Lie

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The following press release is from ProgressVA. I hope to see other Democrats, including the narrative-challenged DPVA, making it very clear what a sham Bob McDonnell’s supposed “surplus” actually is. As McDonnell desperately tries to get himself selected as someone’s – anyone’s! – running mate in 2012, this task is more urgent than ever.

“Borrowing Bob’s” surplus announcement ignores state’s true budget problems

Charlottesville, VA – ProgressVA today responded to Governor McDonnell’s announcement of a larger than anticipated end of year surplus, reminding Virginians that accounting gimmicks and conservative revenue projections won’t solve the state’s true fiscal problems.

This ‘surplus’ is the result of heavy borrowing, substantial cuts to services, federal stimulus, creative accounting, and not paying our bills,” said Anna Scholl, Executive Director of ProgressVA. “It’s time for long term solutions.  It’s time for a balanced approach.”

While we appreciate the governor’s attempt to boost his resume for a Vice Presidential bid, Virginia taxpayers deserve facts, not gimmicks. The truth is that Virginia faces an $800 million budget shortfall for the 2012 budget cycle, over $17B in unfunded liabilities for the state pension fund, and a quickly growing balance on the state’s credit card.”

Virginia is constitutionally bound to balance its budget. Revenue surpluses at the end of a biennial budget cycle are simply the result of tax collections out-pacing conservative revenue projections. Furthermore, the majority of excess funds at the end of the budget cycle are already statutorily committed to a variety of programs, including the state’s rainy day fund and Chesapeake Bay cleanup, leaving few discretionary dollars to apply to underfunded programs.

ProgressVA supports a balanced approach to the state budget championed by the Better Choices for VA coalition that combines sensible cuts with increased revenue through closing wasteful tax loopholes, ending irresponsible corporate giveaways and modernizing our tax code.

  • Another Day another McGimmick Surplus

    Governor McDonnell Continues to Use Gimmicks and Spin to Pad National Resume

    Richmond, VA — DPVA Executive Director David Mills released the following statement following Governor Bob McDonnell’s announcement today that Virginia has a $544 million surplus:

    “Bob McDonnell continues to tout a ‘surplus’ built with unpaid bills, unmet obligations and fiscal gimmicks. No matter what he calls it, the balance he announced today isn’t enough to pay our outstanding bills to the Virginia retirement system and make the investments we need in education, public safety, mental health, and other services that create opportunity for working Virginia families.  

    McDonnell’s self-congratulation over his ‘surplus’ is similar to a family refusing to pay their mortgage for a year and then celebrating the balance in their savings account.

    In his rush to appeal to the Republican presidential field the Governor has chosen boosting his image over being straight with Virginians. Its’s time for him to put the McGimmicks aside and put Virginians first as they struggle with a tough economy and the loss of 14,000 jobs in the month of June alone. In short, working families need more Bob’s for Jobs and less Bob’s for Bob.”

  • It’s very good to see progressive and Democratic groups like Better Choices for Virginia calling out Bob McDonnell for his repeated Big Lies. Corporate media, are you paying attention?!?

    Governor McDonnell’s Surplus Announcement Doesn’t Tell Full Story

    Short-term fixes and drastic cuts put Virginia on unsustainable path

    RICHMOND – What Gov. Bob McDonnell didn’t say when he announced that Virginia finished the last fiscal year with a big budget surplus is that the state faces a projected shortfall of over $800 million for its next budget, Better Choices for Virginia pointed out today.

    Although increased state revenues is a positive sign, members of Better Choices for Virginia are quick to point out that the surplus has already been committed and most importantly, that the state is continuing to fall far short of its responsibilities to meet the needs of Virginians.

    This surplus is a result of heavy cuts to services like education, health care, and public safety, the use of federal recovery act money, creative accounting, and skipping some of our bills,” said Michael Cassidy, President of the Commonwealth Institute for Fiscal Analysis, which is a member of Better Choices for Virginia.  The Institute recently documented the severe shortfall in a report that can be found at http://www.thecommonwealthinstitute.org.  “We have made drastic cuts that hurt working Virginia families and our economy, and even having done so we’re still facing another shortfall in the coming budget,” Cassidy said. “It’s time to start making better choices.”

    Better Choices for Virginia is a broad coalition of 27 groups, including business groups, local officials, educators, labor, and community leaders. It has called on the Governor to adopt a balanced approach to the coming shortfall, one that includes new revenues instead of a cuts-only approach that threatens job creation and economic recovery.  Better Choices for Virginia points out the surplus has already been almost entirely committed (due to required payments to the water quality improvement fund and transportation), and even with higher than anticipated revenue Virginia faces significant shortfalls in the next budget.

    We have chosen to continue irresponsible tax breaks and giveaways instead of adequate funding for schools, roads, health care, and public safety,” said Dr. Kitty Boitnott, President of the Virginia Education Association. “Do we want to choose a Virginia where nearly two thirds of all corporations have no tax liability at all and yet we’re laying off teachers and police?  Or do we want to choose a Virginia where we close those loopholes and give our communities the tools they need to get us out of this recession?

  • glennbear

    McDonnell and others of his ilk concentrate on keeping Virginia’s reputation of being “business friendly”. This emphasis has taken the well being of Virginia’s citizens out of the equation. Business friendly has been twisted into policies that favor corporate “citizens” over living, breathing taxpayers.