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Tuesday, March 17, 2009

The Iowa Republican: Vaudt: Short-term approach limits options for elected officials

Excerpted from this post at The Iowa Republican

Hard times have made Iowans nervous about the future. The problem is
simple -- for years, our state has spent more than it has taken in on an
ongoing basis. Our elected officials were able to do this by playing
shell games with funds and accounts designed for other purposes. Now,
with those funds drying up, coupled with an economic downturn and last
year's flood damage, Iowa faces a perfect fiscal storm -- the likes of
which we have not seen in a long time. The solution to this problem is
obvious -- bring expenditures back in line with revenues. Since our
elected officials have the ability to adjust both sides of the
equation -- spending and revenues -- they must cut spending, raise
taxes, or a combination thereof.

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Mike Schramm
Andy Szal

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