Facing a $75 million shortfall in the state budget, Gov. Bryant called a special session to dip into the state’s rainy day fund to cover the deficit. After much grandstanding, the legislature authorized the governor to pull from the $349 million fund to balance the state’s $6.2 billion fiscal 2016 budget.
After years of demanding that the rainy-day fund only be used to pay one-time costs, Republicans are dipping into the fund for a second time within a year. And this after a year of corporate giveaways and borrowing money to do so. Katherine DeCoito makes the observation that, at this rate, the politicians are incentivized to make every year a “rainy day”–at least until the state is bankrupt–and they can no longer bail themselves out.
Geoff Pender further illustrates the absurdity of the legislative session which cost taxpayers $102,000 which would be comical if it wasn’t so pitiful. Our legislators, Democrat and Republican, apparently think they are playing with “Monopoly” money. Unfortunately, it is not.
- House approves rainy day fund spending, ends session
- Pender: The special session certainly was special
- Katherine DeCoito:
- AFP-MS: Legislature should not rush into ‘economic development’ projects