Vermont beats trend with $10 million surplus

[dajabr]

July 11, 2003

By CHRISTOPHER GRAFF The Associated Press

MONTPELIER — In a fiscal year that saw states across the nation swimming in seas of red ink, Vermont ended with a $10.4 million General Fund surplus.

“We are very, very different than other states,” said Stephen Klein, chief fiscal officer for the Legislature. “We have lived within our means.”

The Douglas administration on Friday released the final figures for the fiscal year that ended June 30. They show taxes for the state’s main operating fund generated $864.87 million, which is $10.43 million more than analysts had forecast in January.

That surplus will be placed into the state’s rainy day fund, which is used to avoid future deficits. This comes at a time when many states are emptying their rainy day funds, raising taxes and still face deficits of millions and — in some cases — billions of dollars.

--snip--

Klein agreed that lawmakers and both the Dean and Douglas administrations deserve the credit for the state’s strong fiscal health, but added, “I think Dean gets a large amount of credit.”

“He set the tone,” Klein said. “You had fairly conservative revenue forecasts and fairly conservative spending policies that made it easier to respond when revenues collapsed.”

More: http://rutlandherald.nybor.com/News/Story/68442.html

[burr]

1. The GOP spin...

Will they say it happened thanks to the Clinton economy? Or will they give credit to the fiscal policies of the former Governor? Nope, they never give credit...that is what our leaders do. They just pass the buck.

[dajabr]

2. Unlike Dean...

Who never fails to praise Clinton on the economy. And cite the fact that he served through 2 Bush recessions!

[DeanandBushSuck]

5. Wrong!!!

Howard Dean attacked Bruce Reed. Reed was the chief economic advisor of to Clinton and DLC. You must be selective in your reading.

[DeanandBushSuck]

3. Are we forgetting something?????

Howard Dean is no longer Governor of Vermont. How can this reflect well on Dean?

[killbotfactory]

4. Reading the article might help.

I suggest you try it.

[CMT]

7. because he was governor up to a few months ago

and the policies of his administration for the ll years prior to the GOP taking control should be credited for this. He left Vermont in good fiscal shape. That is why he gets credit. If he left it in bad shape they wouldn't have this surplus. Another example we had GOP governors in Wisconsin for 16 years before Democrat Doyle took office and he inherited a mess. The GOP governor is fortunate to have inherited a state in good shape despite a national recession due to Dean's policies.

[Name removed]

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