Stunning Budget News

[cantlogin]

When the news is dominated by irresponsible budgeting and spending by individuals, businesses and governments there seems to be no end to the escalating deficits, bankruptcies and taxes.
I discovered a shocking exception in my local newspaper. It represents a small amount of money but the example proves that it’s possible to budget responsibly. I really wish this sort of thing would spread.

Ross Twp. to drop real estate tax in 2009 - poconorecord.com - The Pocono Record

 

[dex]

Saving for a rainy day - a crazy idea that will never catch on.

 

[Bestwifeever]

Now that's a town to consider for retirement!

 

[ziggy29]

The problem is that usually when a government -- be it local, state or (in theory) federal -- runs a surplus, every special interest has its hand out to claim it. Some want to create new programs with it. Some want to jack up funding for their pet projects. Others want it all returned to the taxpayers.

And as a result, everyone gets their little piece of the action and the surplus vanishes.

The net result is that when the economy tanks, these governments run into a budget crisis. And because they didn't save their surpluses for a "rainy day," they are faced with the need to cut spending or raise taxes -- which are the worst choices one can face in a recession.

 

[Khan]

The problem is that usually when a government -- be it local, state or (in theory) federal -- runs a surplus, every special interest has its hand out to claim it. Some want to create new programs with it. Some want to jack up funding for their pet projects. Others want it all returned to the taxpayers.

And as a result, everyone gets their little piece of the action and the surplus vanishes.

The net result is that when the economy tanks, these governments run into a budget crisis. And because they didn't save their surpluses for a "rainy day," they are faced with the need to cut spending or raise taxes -- which are the worst choices one can face in a recession.

This happened in Ohio in the '80s.

 

[cantlogin]

Now that's a town to consider for retirement!

I'm happy to be living here, yes I am!

 

[FinanceDude]

The problem is that usually when a government -- be it local, state or (in theory) federal -- runs a surplus, every special interest has its hand out to claim it. Some want to create new programs with it. Some want to jack up funding for their pet projects. Others want it all returned to the taxpayers.

Or in the case of my hometown, the village trustees eliminated a $2700 line item to fund the operation of a leadership training program for local businesspeople because they thought "there was no value", even though the village administrator, village clerk, and Chamber of Commerce director are graduates. And, this was part of a $15 million budget.........

 

[freebird5825]

wow - lucky lucky you to have people with brains in charge.

my biggest and most unpredictable annual expense right now is school and property taxes. i expect they will go up dramatically with current state budget shortfalls. but i'm ready for them, by golly gosh darnit

PS Poconos area is very special to me...i have some very nice memories from visiting there.

 

[Nords]

wow - lucky lucky you to have people with brains in charge.

If Alaska and Canada can run a budget surplus, let alone the Poconos, then wouldn't that tend to show that just about anyone could run a budget surplus?

In other words, what's keeping everyone else from being able to be just as fiscally smart as the Alaska governor and the Canadian govt, let alone Pocono's civic leaders?

 

[UncleHoney]

If Alaska and Canada can run a budget surplus, let alone the Poconos, then wouldn't that tend to show that just about anyone could run a budget surplus?

In other words, what's keeping everyone else from being able to be just as fiscally smart as the Alaska governor and the Canadian govt, let alone Pocono's civic leaders?

Hummm.......Didn't the voters just send the fiscally smart Alaska governor packing out of Washington?

Maybe voters need to get their own messes cleaned up first and then head to the town hall, state capitol or Washington with pitch forks to get the point across to government.

You can't just wind up politicians and let them go on the floor like toys, they can cause too much damage. You gotta keep them on a short leash, maybe even a choke chain.

 

[harley]

If Alaska and Canada can run a budget surplus, let alone the Poconos, then wouldn't that tend to show that just about anyone could run a budget surplus?

In other words, what's keeping everyone else from being able to be just as fiscally smart as the Alaska governor and the Canadian govt, let alone Pocono's civic leaders?

If I recall correctly, Alaska gets a huge cash inflow each year from the oil companies. So I suspect it would be much easier for them to run a surplus. But I say three cheers for the politicians in the Poconos. They obviously aren't suitable for higher level positions.

 

[Rustic23]

How does it go 'We have net the enemy and he is us'

We elect politicians that run on a platform of cutting spending, and then re-elect them when they bring home the pork! Congress has something like an 11% approval rating, yet everyone likes their congressman.

 

[ziggy29]

How does it go 'We have net the enemy and he is us'

We elect politicians that run on a platform of cutting spending, and then re-elect them when they bring home the pork! Congress has something like an 11% approval rating, yet everyone likes their congressman.

That's about right.

Congress stinks -- but my guy/gal is one of the good ones...

We need to slash spending -- except for the spending I approve of that benefits me...

And as a result, Congress has something like a 95% reelection rate, and deals are cut that "I'll support your spending program if you'll support mine," and all that stuff, and we collectively bury our kids and grandkids that much more.

 

[unclemick]

If I recall correctly, Alaska gets a huge cash inflow each year from the oil companies. So I suspect it would be much easier for them to run a surplus. But I say three cheers for the politicians in the Poconos. They obviously aren't suitable for higher level positions.

Yep - Alaska reminds me of a sign near the cash resgister at a place I sometimes eat beakfast:

You can get more with a warm smile and a gun - than just a warm smile. Al Capone.

Works for country and city business permits also - we have these er ah rules.



heh heh heh - did I mention once I lived thirty years in New Orleans? .