• Facebook
  • Twitter
64°
Saturday June 25, 2016
News-Sentinel.com Your Town. Your Voice.
Stock Summary
Dow17400.75-610.32
Nasdaq4707.98-202.06
S&P 5002037.41-75.91
AEP67.260.67
Comcast61.65-1.3
GE29.82-1.37
GM28.35-1.47
LNC38.47-5.9
Navistar11.73-1.41
Raytheon135.750.92
SDI24.11-1.45
Verizon54.43-0.24
Opening Arguments

Keep it sane

Texas is getting a lot of attention for it's $8.8 billion surplus, created mostly by a boom in salex tax revenue (people spend more in a healthy economy) as well as taxes on oil and natural gas revenues. Mary Katharine Ham at Hot Air points out that Texas isn't the only state with a sunny fiscal outlook:

With a $500 million budget surplus and $2 billion in reserves, Indiana Governor-elect Mike Pence has pledged to give back some of that money when he takes office next week by cutting personal income taxes.

[. . .]

Iowa is looking at an $800 million surplus. Florida’s is more than $400 million. Michigan, which was in a recession years before the country entered one in 2007, has an extra $1 billion in its general funds.

She notes that all those states have something in common and suggests it is: Republican governors. I don't think we have to be that partisan about it. We can just say that those states are reaping the rewards of prudence and thrift, i.e. a sane fiscal policy. While insane states like California start circling the drain, we provide the good example for states that don't wish to court insolvency.

 

Quantcast