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Yes, Virginia, There is a Surplus – Cal Thomas

08/23/2011

While the federal government continues to drown in a sea of debt, several states are reporting surpluses, thanks to policies Washington would do well to emulate.

Nowhere has the economic turnaround been more immediate than in Virginia. When Governor Bob McDonnell took office in January 2010, he was faced with a $2.2 billion shortfall bequeathed to him by outgoing Democratic governor (and now Senate candidate) Tim Kaine. In less than two years, McDonnell has delivered two budget surpluses without raising taxes or causing harm to the “most vulnerable.” Instead, he has judiciously cut spending.

Last week, the governor’s office announced a surplus of $544.8 million. That is $234.1 million more than McDonnell told the legislature on June 30 he has saved state taxpayers. Call it compound savings …

Read More at Townhall.

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