Editorial: Politics helped leave state short of funds
Published 12:00 am Wednesday, November 28, 2001
It appears that when the state releases its revenue forecast on Dec.
Wednesday, November 28, 2001
It appears that when the state releases its revenue forecast on Dec. 4, it will show a shortfall as much as $1 billion.
Such numbers are prompting state agencies to tighten their budgets by as much as 10 percent for the upcoming year.
The main question to ask in regard to the shortfall is, why did the Legislature let it happen?
There’s no question the Legislature could not have predicted the Sept. 11 attacks, which sent the stock market into a downward spiral and likely pushed our country into an official recession.
However, when the Legislature approved a tax rebate last June, and a sweeping new property tax reform package that could mean property tax cuts of 25 to 30 percent per household, the economy already showed signs of a downward trend.
Had the Legislature not been so trigger-happy to cut taxes – no doubt to take back to their constituents – our state may not be facing a budget shortfall.
Now, it appears the Legislature may be forced to either cut state services or raise taxes, something it hasn’t had to do in some 15 years. And something that legislators will find out is rather painful to do.
Minnesota voters ought to remember the session of 2000 as the session when politics overrode good sense.