Virginia Budget: Is Fat with 544 Million Surplus Over Expenditures
The reason why we have such a balance is because Virginia's economy surged in 2004 and because of tax increases. This puts Virginia rainy day fund over a billion dollars. Or slightly higher than Rev Jerry Falwell's backup plan for an endowment fund for Liberty University.
With this considerable balance, of a billion dollars being saved for Virginia's rainy days, maybe it is time to reign in, and reduce the tax burden on Virginians. Virginia's goal at this point should be to equalize the taxes with the cost of running the Virginia government. A problem with governments, all governments including our state and Lynchburg governments, spending gets out of hand when the money pot gets too large. Just like we have to teach our kids to be responsible for their allowance, we should be very careful in watching the allowances given to our local governments.
(Local news) (City Council and local issues)