Budget Prediction Woes Affect Jody Wagner's Race

Well, it appears that Jody Wagner’s warped budget predictions will come back to haunt her this election. With the Commonwealth of Virginia facing budget cuts that include layoffs, furloughs, prison closures, and reduced student aid to higher education.

Richmond Times-Dispatch reports that Bill Bolling is highlighting how Wagner’s budget predictions have led to some of the largest cuts. For a long time, Bolling has been providing warnings since 2007 that the state’s revenues were too high. Bolling also mentioned in a previous op-ed that

“”it is important to remember that while state revenues are not increasing as rapidly as had been expected, they are still increasing.”

Instead of 3.3 percent growth in the 2008-09 fiscal year and 6.6 percent in the 2009-10 fiscal year, the tax revenues are projected to decline an estimated 10.8 percent in the two years.”

It is the role of the Secretary of Finance to draw up a responsible budget with realistic predictions and monitor expenditures. Even when reports were showing that our national economy was headed for a downturn in 2007, Virginia could have been better prepared for this situation by having a realistic budget that had cut some unnecessary, wasteful program.

Bill Bolling has every right to criticize Jody Wagner, as her budget predictions have clearly led to cuts, furloughs, etc.