Spend it While You Got it

Yesterday, State Auditor David Vaudt released his report on the growing revenue and spending problem the state is facing. Iowa will receive federal stimulus money that will, for one time only, helpt to alleviate the bleeding. But if Iowa continues at the current rate, in 2011, the budget will be 61% less than the previous year. That's huge!

Auditor Vaudt gave a good example: for every $1.00 brought into Iowa, the state spent $1.14. Doesn't seem like a lot, but boy does it add up. The bonding numbers are worse. For every $1.00 borrowed, Iowa will end up spending $2.18 to pay it back. How is this fiscal responsibility?

Here's the clincher - if spending would have been kept in line with inflation, Iowa would have had a 2% surplus this year! People need to speak up. Iowans will unfortunately feel the ramifications of this in their higher taxes and raised fees next year.