Smart Managers of Public Money

The economy seems be doing just fine and most state legislatures seem to be benefiting from the “unexpected revenue”. Most, but not all.

Most states reporting big budget surpluses: For first time since Sept. 11, 2001, the vast majority of states reported that they saved an average of 10 percent of their budgets, one of the highest percentages of unspent money in decades. The $57 billion in unexpected revenue has afforded states an opportunity to find all sorts of creative ways to spend and save their cash, according to a report released last week by the National Conference of State Legislators.

All but five states -- Illinois, Kansas, Louisiana, Michigan, and Wisconsin -- reported surpluses this year. … The report notes that year-end balances are widely considered one of best indicators of state fiscal health.

The budget in Wisconsin is a mess, and since only the disingenuous and inept would blame the problem on the economy, there must be another factor.

National Conference of State Legislatures: "Not only do we have the rebounding economy to thank for this, we also should applaud the diligent work of state legislators across America who have been smart managers of public money," said NCSL President Steve Rauschenberger, an Illinois senator. "State legislators have learned from the budget crisis of the early part of the decade, as we can see by the prudent choices they're making now."

Ahhhh! The key seems to be legislators able and willing to make “prudent choices”. Of course it is hard to change an entire team, so maybe the thing to do is to change the manager.