01/10/2011:Article in Journal "a session likely dominated by budget cutting to close a large shortfall..."; "...shortfall in the next fiscal year of $500 million to $700 million,..."
10/15/2010- A local Dem, on Journal Letter to Editor page (pre-election):
"Thanks to Chet; Iowa is on rebound".
"State revenue up by nearly $300 million". "Add that to the $355 million surplus at the end of the last fiscal year and the $419 million in the rainy day fund and that equals over $1 billion that could be available for next fiscal year if needed - $1.07 billion to be more accurate."
I want to know where the money went that the Dems and Culver were saying they had in October just before the elections. Where did that surplus and rainy day fund go to, Libs??? Why are we now having a shortfall? Dems have been in charge!
The Dems built up the Billion dollar fund available for next year made up of reduced spending and increased revenue and using cautious estimates of revenue and spending. Ask what the Republicans have done with it already.
It's there, but the Republicans just won't acknowledge it. It's like John Boehner saying health care reform will cost more even though the CBO says it won't.
If you are determined to weaken government, you need to reduce its funds. So pretend they don't exist then you can't spend them.
$327 million has been assigned to a "tax relief fund" which
apparently makes it go away and not be available to spend. I think the house voted on this already. I'm not sure of the senate
Feel free to do further research and get back to us.
