Gov Walker to Give $800 Million Surplus Back to the People

[g5000]

Wisconsin is not allowed to go in the red in the state budget. So unless revenue unexpectedly increases between now and June, they will have to pass a repair bill.

So again, just how stupid do you have to be to give away $443 million when you will need every cent of that between now and June and will probably still come up short?

Now you're just making shit up.

Did you read your own link? This is turning into a comedy!

As we mentioned, the state cannot run an actual deficit. Accordingly,the fiscal bureau said the state might need a budget repair bill by June 30, 2015 unless revenue comes in higher than currently expected and/or spending is reduced.

 

[g5000]

State could need a budget repair bill

Last week, the Walker administration reported that state tax collections fell short of expectations by $281 million last fiscal year.

If the state doesn't make up this missing money by June 30, 2015 — either through higher-than-expected tax revenue or lower-than-expected spending going forward — the state budget would be $115 million in the red by next summer.

That projected shortfall is more than enough to trigger the $79 million threshold in state law for a budget repair bill, the fiscal bureau reported.

For now, the state's rainy day fund has enough money — $280 million — to cover the projected shortfall, though Walker and lawmakers would have to pass a law to use it for that purpose.

 

[The Rabbi]

Wisconsin is not allowed to go in the red in the state budget. So unless revenue unexpectedly increases between now and June, they will have to pass a repair bill.

So again, just how stupid do you have to be to give away $443 million when you will need every cent of that between now and June and will probably still come up short?

Now you're just making shit up.

Did you read your own link? This is turning into a comedy!

As we mentioned, the state cannot run an actual deficit. Accordingly,the fiscal bureau said the state might need a budget repair bill by June 30, 2015 unless revenue comes in higher than currently expected and/or spending is reduced.

Note hte word "might" in your quotation. Do I need to teach you English as well?

 

[The Rabbi]

State could need a budget repair bill

Last week, the Walker administration reported that state tax collections fell short of expectations by $281 million last fiscal year.

If the state doesn't make up this missing money by June 30, 2015 — either through higher-than-expected tax revenue or lower-than-expected spending going forward — the state budget would be $115 million in the red by next summer.

That projected shortfall is more than enough to trigger the $79 million threshold in state law for a budget repair bill, the fiscal bureau reported.

For now, the state's rainy day fund has enough money — $280 million — to cover the projected shortfall, though Walker and lawmakers would have to pass a law to use it for that purpose.

Not ethe word "Could" in your headline.
Is English not your native language?

 

[g5000]

State could need a budget repair bill

Last week, the Walker administration reported that state tax collections fell short of expectations by $281 million last fiscal year.

If the state doesn't make up this missing money by June 30, 2015 — either through higher-than-expected tax revenue or lower-than-expected spending going forward — the state budget would be $115 million in the red by next summer.

That projected shortfall is more than enough to trigger the $79 million threshold in state law for a budget repair bill, the fiscal bureau reported.

For now, the state's rainy day fund has enough money — $280 million — to cover the projected shortfall, though Walker and lawmakers would have to pass a law to use it for that purpose.

Not ethe word "Could" in your headline.
Is English not your native language?

Note the word "probably" in my post. Is English not your native language?

 

[g5000]

When the experts are saying you run a risk of having a shortfall, and that risk is climbing to higher and higher numbers, how stupid would you have to be to empty your account of what money you do have?

Pretty stupid.

 

[g5000]

No need to go epileptic, just because you don't have an intelligent response.

'Giving back' surpluses guarantees perpetual debt, because surpluses are the only means to pay down the debt.

It's not that complicated.

Obviously too complcated for you though.
There is no need to repay debt as the debt is rolled over term to term. As long as debt isnt increasing at an unsustainable rate it doesnt matter.

So it doesn't matter that the US government pays 400 billion a year in interest on the national debt?

Tell how big that number would have to be before you'd say it did matter.

Not necesarily, no.
It would have to be big enough that the US could not service its debt anymore.

When bondholders start demanding a percentage point or two increase in the interest rate, you suddenly have a meltdown.

Nope.

Yep.

Just ask Japan.

A single percentage point hike in interest rates will collapse their economy.

A two point hike here would trigger panic selling of the current outstanding bonds.

 

[The Rabbi]

State could need a budget repair bill

Last week, the Walker administration reported that state tax collections fell short of expectations by $281 million last fiscal year.

If the state doesn't make up this missing money by June 30, 2015 — either through higher-than-expected tax revenue or lower-than-expected spending going forward — the state budget would be $115 million in the red by next summer.

That projected shortfall is more than enough to trigger the $79 million threshold in state law for a budget repair bill, the fiscal bureau reported.

For now, the state's rainy day fund has enough money — $280 million — to cover the projected shortfall, though Walker and lawmakers would have to pass a law to use it for that purpose.

Not ethe word "Could" in your headline.
Is English not your native language?

Note the word "probably" in my post. Is English not your native language?

When you have something other than opinion get back to me.

 

[The Rabbi]

When the experts are saying you run a risk of having a shortfall, and that risk is climbing to higher and higher numbers, how stupid would you have to be to empty your account of what money you do have?

Pretty stupid.

Yeah we should always listen to "experts" esp when they are politically motivated.

 

[The Rabbi]

Obviously too complcated for you though.
There is no need to repay debt as the debt is rolled over term to term. As long as debt isnt increasing at an unsustainable rate it doesnt matter.

So it doesn't matter that the US government pays 400 billion a year in interest on the national debt?

Tell how big that number would have to be before you'd say it did matter.

Not necesarily, no.
It would have to be big enough that the US could not service its debt anymore.

When bondholders start demanding a percentage point or two increase in the interest rate, you suddenly have a meltdown.

Nope.

Yep.

Just ask Japan.

A single percentage point hike in interest rates will collapse their economy.

A two point hike here would trigger panic selling of the current outstanding bonds.

Japan has suffered for over 20 years with zero interest rates and stimulus after stimulus. Call me when our debt to GDP remotely approaches theirs.
And no, a two point hike will not trigger panic selling, unless it happens overnight. Which it wont.

 

[g5000]

So it doesn't matter that the US government pays 400 billion a year in interest on the national debt?

Tell how big that number would have to be before you'd say it did matter.

Not necesarily, no.
It would have to be big enough that the US could not service its debt anymore.

When bondholders start demanding a percentage point or two increase in the interest rate, you suddenly have a meltdown.

Nope.

Yep.

Just ask Japan.

A single percentage point hike in interest rates will collapse their economy.

A two point hike here would trigger panic selling of the current outstanding bonds.

Japan has suffered for over 20 years with zero interest rates and stimulus after stimulus. Call me when our debt to GDP remotely approaches theirs.
And no, a two point hike will not trigger panic selling, unless it happens overnight. Which it wont.

Famous last words. Kind of reminds me of Bush's "we're going to have a soft landing" speech.

 

[g5000]

State could need a budget repair bill

Last week, the Walker administration reported that state tax collections fell short of expectations by $281 million last fiscal year.

If the state doesn't make up this missing money by June 30, 2015 — either through higher-than-expected tax revenue or lower-than-expected spending going forward — the state budget would be $115 million in the red by next summer.

That projected shortfall is more than enough to trigger the $79 million threshold in state law for a budget repair bill, the fiscal bureau reported.

For now, the state's rainy day fund has enough money — $280 million — to cover the projected shortfall, though Walker and lawmakers would have to pass a law to use it for that purpose.

Not ethe word "Could" in your headline.
Is English not your native language?

Note the word "probably" in my post. Is English not your native language?

When you have something other than opinion get back to me.

I have been using your own link!

You make ridiculous claims and then when challenged with sound reasoning, all you have is, "Nuh-uhhhh!"

 

[NYcarbineer]

Wisconsin has billions in long term debt and is paying millions in interest on that debt. That's where the surplus belongs,

paying down the debt. Walker is making exactly the same error GW Bush made in 2001. Not surprisingly.

Fuck you. You dont give a shit about deficits, debt or anything else. Walker is a Republican. Therefore whatever he wants you oppose. Becuase he's on the other team from you. No other reason.

No need to go epileptic, just because you don't have an intelligent response.

'Giving back' surpluses guarantees perpetual debt, because surpluses are the only means to pay down the debt.

It's not that complicated.

Obviously too complcated for you though.
There is no need to repay debt as the debt is rolled over term to term. As long as debt isnt increasing at an unsustainable rate it doesnt matter.

So it doesn't matter that the US government pays 400 billion a year in interest on the national debt?

Tell how big that number would have to be before you'd say it did matter.

Not necesarily, no.
It would have to be big enough that the US could not service its debt anymore.

So why do you constantly bitch about Obama supposedly adding to the debt if now you admit that's your opinion it doesn't matter?

 

[rdean]

It should be interesting what cuts Walker will have to make to accomplish his $800 million giveaway, considering a 1.8 billion projected shortfall.
Wisconsin state budget shortfall projected at nearly $1.8 billion
Madison — The expected shortfall for the next two-year state budget starting in July has risen to nearly $1.8 billion, or about half of what it was when Gov. Scott Walker took office in January 2011.
Meanwhile, the state's projected gap in its current budget ending June has risen to $396 million — or about 1.2% of the spending planned for the 2013-'15 budget.
The Republican governor resolved a more than $3 billion budget shortfall in the months after taking office, but the latest projections show the state is running through the resulting surplus. The state is again facing a gap in the 2015-'17 budget because of tax cuts enacted by Walker and lawmakers and lagging growth in other state taxes in recent months.
The projected weakness in the state budget matters because it eventually could lead to cuts in spending on priorities such as schools or increases in state taxes or fees.
The latest estimates by the Legislature's nonpartisan budget office jumped by more than $1.1 billion over the previous estimate of a $642 million gap released in May. The projections from the Legislative Fiscal Bureau were released Monday for the budget beginning in July 2015 and ending in June 2017.
Wisconsin state budget shortfall projected at nearly 1.8 billion

In other news, I didn't know that Joe the Plummer had a website? Thanks to the OP, I learned something today. If you're looking for something fair and balanced,,,,,,,,,
Joe For America

The usual lib talking point: if we cut anything children will go without education and criminals will proceed with impunity.
How did that work out for Detroit?

How can that be a typical lib talking point?

Do you typically come up short on your budget projections? Or now miscalculations are ok? 57 states?

Texas cut 5 billion from education. And the GOP Gov of Texas goes to California and New York and Illinois trying to lure skilled and educated workers to his state. It will only get worse for the GOP base. People who have only disdain for education end up fighting over janitorial jobs. They aren't qualified for anything else.

 

[initforme]

As a lifelong resident of the state of Wisconsin, I say why not keep some of this and put it into the infrastructure such as roads which are in desperate need of repair. Attracting businesses means well developed roads, not the atrocities we have. Then put the rest away for further needs. Frankly getting $10 back on my taxes which went up makes zero sense. Nothing but a political move to capture the interest of those who despise taxes of any type. Also, give a nice increase to the county workers who plow our roads. They deserve it.

 

[Dad2three]

Sez the guy who cant read a chart to save his life.
There is no deficiit, moron. You'd have to be able to read an article to find the truth. That is clearly as beyond you as reading a graph.
Despite news of 1.8 billion shortfall Alberta Darling says Wisconsin has 443 million surplus PolitiFact Wisconsin

From your own link:

It shows the entire $443 million surplus being swallowed up and the state facing a "revenue shortfall" of nearly $116 million -- since revised to $396 million -- by the end of the fiscal year -- June 30, 2015. That's because tax collections have been lower than expected.

So the "surplus" is bogus. It is like having $1500 in your checking account two days before your $2500 mortgage is due, and saying you have a surplus.

Scott is doubling down on the retard by proposing to give away all the the money in the checking account the day before the mortgage is due.

Good post

 

[Zander]

Good move.

Of course liberal c#nts believe that all earnings belong to the state.....damn they're stupid.

 

[Dad2three]

Good move.

Of course liberal c#nts believe that all earnings belong to the state.....damn they're stupid.

And of course cons LOVE to run up debt. Pay it off in good times? lol